Quiksilver

For the chemical element also known as quicksilver, see mercury (element).
Quiksilver, Inc.
Private
Traded as (none)
Formerly OTC Pink: ZQKSQ and NYSE: ZQK
Founded Torquay, Australia
(1969 (1969))
Founder Alan Green and John Law
Headquarters Huntington Beach, California, United States
Key people
 Pierre Agnes, CEO[1]
Products Apparel, Sporting goods
Revenue Increase US$1.81 billion (2013) [2]
Increase US$82.3 million (2013) [2]
Number of employees
 7,875
Divisions Roxy
Subsidiaries DC Shoes
Website Quicksilver

Quiksilver, Inc. is an American retail sporting company, founded in Torquay (Australia), and based in Huntington Beach, California and one of the world's largest manufacturers of surfwear and other boardsport-related equipment.[3] Its logo, designed by company founder Alan Green and John Law in Torquay, Victoria, Australia, in 1969,[4] was inspired by Japanese painter Hokusai's woodcut The Great Wave off Kanagawa.[5] It consists of a large wave with a mountain on a red background.

The company also produces a line of apparel for young women, under the brand Roxy. The Roxy logo consists of two copies of the Quiksilver logo, one reflected, forming a heart. Quiksilver has another line of apparel for women under the brand Quiksilver Women. As of 2013, the company lost financially for six years and initiated a turnaround plan in an attempt to resolve this.[6] However, in September 2015 the company filed for bankruptcy.[7][8] After emerging from bankruptcy in early 2016, the company once again became privately held with Oaktree Capital Management as the majority shareholder.[9]

Corporate information

Quiksilver purchased Skis Rossignol for $560 million in 2005, but sold Rossignol on 12 November 2008 for $37.5 million (30 million euros) in cash and a $12.5 million note (10 million euro).[10] It owned golf-equipment maker Cleveland Golf up until 31 October 2007, when it sold the company to a Japanese sporting goods company.[11] In 2009 Moody's included Quiksilver on its Bottom Rung list of companies most likely to default on its debt.[12] Quiksilver also owns DC Shoes, a skateboard shoe brand.

Co-founder and CEO of Quiksilver Bob McKnight stepped down as CEO on 11 January 2013. McKnight then acted as Executive Chairman, until retiring in October 2014.[13] Andy Mooney, who was formerly chairman of Disney Consumer Products, served as CEO from 2013 to 2015.[14] The current CEO is Pierre Agnes.[1]

Andy Mooney stepped down as the CEO of Quiksilver and was replaced in March 2015 by longtime Quiksilver employee Pierre Agnes to restructure the brand.[15]

Quiksilver 2013-today

As of 2013, Quiksilver operated 834[16] stand-alone stores in major cities across Australia, New Zealand and the Pacific, Europe, North and South America, Asia and Africa At that time, there were two types of Quiksilver operated stores, known as either "Boardriders Club" or "Factory" stores. Their products were also sold in many other outlets across the world such as PacSun, the Fells Point Surf Company or the Ron Jon Surf Shop. With PacSun's decline in retail prominence, Quiksilver and other brands have suffered diminished sales. In addition, the company operated a number of separate Roxy and Quiksilver Youth stores. As of 2016, their current retail presence is significantly smaller after restructuring by Oaktree Capital Management.[9]

Roxy

In 1990, Quiksilver launched its sister brand for young women, Roxy. The brand was shuttered after 1991 surf industry crash but revived by Bob McKnight and Danny Kwock in 1992, signing Lisa Andersen in 1993. It was differentiated from the main Quiksilver line "for fear it would damage the men's brand", according to Randy Hild, the company's senior vice president of marketing. Roxy was chosen because it sounded like a punk band or club (likely Roxy Music and The Roxy respectively), and is also the name of the daughters of both CEO Bob McKnight and founder Alan Green.[17][18] About 30% of Quiksilver's sales come from the Roxy line.[19]

Since inception, Roxy has grown to be the largest action sport fashion apparel company for young women. In addition to apparel, it now also produces accessories, homewares, hard goods (snow and surf), wetsuits, footwear, books and perfumes. It has sub-brands for its children's ranges, named Roxy Girl and Teenie Wahine.

In the Spring of 2013, the "DVF loves Roxy" collection was released as a one-time limited edition collaboration line of swim and beach wear as well as accessories.[20]

See also

References

  1. 1 2 Connelly, Laylan (March 27, 2015). "Huntington Beach-based Quiksilver replaces CEO with longtime company insider". The Orange County Register. Retrieved 2015-03-27.
  2. 1 2 "Annual Reports / Investor Relations / Quiksilver Inc / Quiksilver - Quiksilver Inc". Ir.quiksilver.com. Retrieved 2016-02-21.
  3. ↑ "Global Boardsports Market". Companiesandmarkets.com. Retrieved 2016-02-21.
  4. ↑ "Quiksilver - About Us". 2011. Retrieved 2011-12-29.
  5. ↑ (In French) L'Express (13 July 2000). "Surf La planche à billet". Retrieved 2009-09-06.
  6. ↑ Pfeifer, Stuart (2013-06-17). "Quiksilver is riding a wave of red ink". LA Times. Retrieved 2016-02-21.
  7. ↑ "Quicksilver Chapter 11 Petition" (PDF). PacerMonitor. PacerMonitor. Retrieved 9 May 2016.
  8. ↑ "Quiksilver files for Chapter 11 bankruptcy in the US - BBC News". Bbc.co.uk. Retrieved 2016-02-21.
  9. 1 2 CONNELLY, LAYLAN. "Quiksilver, free from bankruptcy, talks booze and boardshorts". The Orange County Register. Retrieved 2016-05-20.
  10. ↑ "Quiksilver closes on sale of Rossignol ski unit". MSN Money. Associated Press. 13 November 2008. Retrieved 2008-11-13.
  11. ↑ "Quiksilver Sells Cleveland Golf Unit". 31 October 2007. Retrieved 2007-11-30.
  12. ↑ McCracken, Jeffrey (10 March 2009). "Moody's Aims to Be Ahead on Defaults". The Wall Street Journal. p. C1.
  13. ↑ "Quiksilver Executive Chairman Bob McKnight To Retire; Pierre Agnes Appointed President | Transworld Business". Business.transworld.net. Retrieved 2016-02-21.
  14. ↑ Connelly, Laylan (3 January 2013). "Quiksilver co-founder and longtime CEO steps down". The Orange County Register. Retrieved 3 January 2013.
  15. ↑ Beilfuss, Lisa (March 27, 2015). "Quiksilver Ousts CEO, Installs 27-Year Company Veteran as Chief Executive". The Wall Street Journal. Retrieved March 27, 2015.
  16. ↑ Hamanaka, Kari (13 June 2011). "Quiksilver Comeback: New Stores Planned". Orange County Business Journal. 34 (24): 65. Of these 834 stores, 540 are owned by the company and the rest operate under licensing agreements.
  17. ↑ Bellantonio, Jennifer (16 September 2002). "Image makers". Orange County Business Journal. Retrieved 6 December 2009.
  18. ↑ Calhoun, Carina (12 July 2010). "Q&A". Orange County Business Journal. 33 (28): 7.
  19. ↑ Gomez, Alicia (16 August 2010). "Beyond Roxy: Quiksilver Does Junior Line". Orange County Business Journal. 33 (33): 3, 31.
  20. ↑ Bradstreet, Kailee (11 March 2013). "Roxy Celebrates Launch Of 'DVF Loves Roxy' Collection". Retrieved 21 March 2013.
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