Posted by Mark J. Miller on August 27, 2013 12:53 PM
Australian surf company Billabong has arguably been the king of big waves for 40 years, but the last couple have been a rough ride for the struggling company. After tripling its losses to $772 million in the fiscal year ending in June, the company on Tuesday essentially declared itself worthless.
Just a year earlier, the declared value of the brand rested at $224 million—still a far cry from its peak in 2007 when it was valued at $3.45 billion, according to Bloomberg.
According to the New York Times, Billabong has several refinancing options on its plate, however its unknown how the new brand value will affect those proceedings. For now, it has delayed the start of Billabong's new CEO, Scott Olivet, who used to head Oakley.Continue reading...
Posted by Mark J. Miller on March 7, 2013 06:17 PM
America has spent more time working or looking for jobs in recent years and it’s put the hurt on some recreational activities. That’s been quite a blow, apparently, to Quiksilver, the brand that’s long been synonymous with surfing, skateboarding and snowboarding.
Andy Mooney, who took over as CEO in January after running the show at Disney Consumer products and spending two decades at Nike, got to share the bad news with the world Thursday as the company reported not-so-great quarterly earnings. Overall revenues for the first quarter, which ended January 31, were down 3 percent to $431 million from $450 million the previous year. American net revenues dropped 9 percent in the quarter to $186 million, down from $205 million. The only major plus for the quarter was that e-commerce sales had gone up 39 percent to $33 million. Continue reading...
Posted by Dale Buss on March 7, 2013 09:18 AM
Facebook plans to announce facelift of its News Feed.
Taco Bell officially releases its Cool Ranch Doritos Locos Tacos today.
Time Warner to spin off Time Inc. as CEO Laura Lang exits.
Adidas posts weaker earnings on Reebok.
Baskin-Robbins plans to triple franchise size in Australia with new partnership.
Birds Eye commended for healthy eating campaign.
Boeing needs to provide more answers on Dreamliner firest to Transportation Secretary Ray LaHood.
Costco backs minimum-wage increase.
Cracker Barrel adds lower-calorie items.
Dell sees buyout deal threatened by activist investor Carl Icahn.
DirecTV bemoans rising program costs.
Google expands Street View in Europe.
Jamba Juice looks to fresh juice to boost sales.
Lego eyes tie-up with "The Simpsons" on Fox.
Moe's Southwest Grill readies first national ad campaign. Continue reading...
Posted by Dale Buss on February 24, 2012 09:01 AM
AIG reports a profit.
Apple CEO Tim Cook says company has more money than it needs and moves to appease shareholders as Proview brings China iPad trademark spat to US.
Best Western launches Facebook hotel reservations.
BP Gulf spill settlement looms.
Burger King eyes India's fast food market.
Cadbury Dairy Milk promotes fair trade chocolate in UK campaign.
Chevy-Ford rivalry heats up via NASCAR.
Chrysler and Carhartt discuss clothing collaboration.
Clorox CEO targets healthcare brands for acquisition.Continue reading...
Posted by Mark J. Miller on January 9, 2012 11:49 AM
With 1.3 billion residents, China is the place every marketer hopes to conquer. Even if a product can get a percentage of that market, they are golden.
Last week we noted how Chinese surfing brands were taking market share from their neighboring action sports brands in Australia. Now, Western brands are chilled to hang ten in China. The mainland isn’t exactly known as a surfing hotbed (yet), but that isn’t stopping the International Surfing Association from trying to rope in some dollars from China.
This past weekend marked the start of the four-day China Cup sponsored by the ISA and Womei Media along with Quiksilver, according to the festival’s website. The idea of the Hainan Wanning Riyue Bay International Surfing Festival, which features back-to-back surf contests, a food festival, and live music, is to “blend surfing with elements of Chinese culture,” according to the site.Continue reading...
Posted by Shirley Brady on January 5, 2012 02:40 PM
Made in China surfboards are taking market share from Australia's surfboard brands, according to Bloomberg. Blame undercutting on price by the Chinese manufacturers, along with rising production costs for the Aussies, who are also being slammed by "a strong currency that’s making their products less competitive overseas."
The dilemma, as Bloomberg puts it:
From Bells Beach to Brisbane, Australia’s board builders are facing a choice: close down, or try to preserve local designs and branding by applying them to products made abroad. “We have to adapt,” said Michelle Blauw, co-owner of Currumbin, Queensland-based D’Arcy Surfboards and president of the Australian Surf Craft Industry Association. “You can’t always point the finger and blame everybody else for the situation that you’re in.”
Another solution, beyond local branding and craftsmanship, is to better utilize digital marketing to more deeply engage with surf, board and action sports fans. Case in point: the D'Arcy Surfboards website offers a Japanese version, in addition to riding the social wave with a Facebook page and store, blog, on Google+ and on Twitter.
The Australian Surf Craft industry is also promoting "Made in Australia" labels to battle the cheaper imports and appeal to homegrown pride:Continue reading...
Posted by Shirley Brady on September 8, 2011 08:45 AM
Yahoo's former CEO Carol Bartz reportedly receives $10M severance package as issues that led to her firing emerge.
Weight Watchers outperforms rivals (and medically supervised diets) in new study.
Target takes New York Fashion Week by storm with 25-foot doll to promote Missoni collaboration.
Amazon cuts deal on California taxes, plans to bring click and collect service to UK.
AOL severs ties with TechCrunch founder Michael Arrington.
Apple cries foul on Chinese logo (when it should be LG); gets nod for clean, green store design; and may need a third campus in Cupertino by 2015.Continue reading...
Posted by Abe Sauer on March 28, 2011 12:00 PM
The numerous Apple Macbook product placements in this week's new #1 film, Diary of a Wimpy Kid: Rodrick Rules, are especially noteworthy since it's clear the filmmakers went to pains to avoid showing other brands.
Instead of identifiable real brands, the producers inserted generic products like "Creamy" brand peanut butter and "Ice Up" soft drinks.
In fact, the prominence of Apple's roles in Wimpy Kid 2 make the brand's claims about not paying for product placement increasingly difficult to believe. The person who might know? Peter Cummings, the film's credited product placement coordinator, who evidently spent a great deal of time "placing" one major brand — Apple.Continue reading...