| Hard- & Software • spokeswoman Cindy Knoebel said |
| 29.10.2013, 05:53 - fezdmwqf - Hohlbratze - 908 Posts Apparel giant arranged to buy skateboard The purchase is part of a loan consolidation trend in the motion sports industry, such as lifestyle and clothing companies centered around this kind of sports as skateboard and snow boarding. The move underscores how the lucrative segment has become a goto area for apparel companies looking to access the youth market for development. Last month, DC Footwear, a Vista skateboardshoe business, agreed to be acquired by surf attire company Quiksilver, based in Huntington Beach. Hurley, a surf clothing company, was obtained by Nike Inc. within 2002. Vans, based in Santa Fe Spgs east of Los Angeles, is one of the oldest and also biggest players in the action sports market. Yet the company features stumbled in recent years following a largely a failed take off for indoor skateboarding areas. "They have been in a constant express of turnaround for approximately four years,www.atmaskin.se/parajumpers.html," explained Michael Pachter, an analyst with Wedbush Morgan Securities. The sale calls for VF to acquire Pickup trucks for $20.55 a new share in cash, symbolizing a 30 percent quality to Vans closing price before the order was announced. Vans had fiscal 2002 sales of $330 trillion and has forecast financial 2004 sales regarding $346 million to $349 million. VF hopes to expand Pickup trucks into a $500 million company within five years, spokeswoman Cindy Knoebel said, mostly because they build the brand apparel business. About 90 percent associated with Vans revenue emanates from shoes sales,parajumpers, and also the rest from goods such as skate bermuda and Tshirts. "We see a larger opportunity inside the apparel side of the business," Knoebel said. The deal won produce any profit on VF earnings this season, the company said, yet should add a bit to 2005 revenue. The acquisition is slated to close in the 3rd quarter and has been approved by the boards involving both companies. Still needs shareholder along with governmental approval. Last night acquisition had observers in the action athletics industry wondering if the Vans brand may be sullied with the backing of a larger corporate parent, out of the box often the case when a great action sports company is acquired. VF has a varied stable of brands, such as Nautica, but none within the action sports portion. Knoebel said VF plans to work Vans as a separate division, keeping their headquarters and management team in place. "I imagine I a little surprised, but lately nothing surprises me," explained Chris Miller, chief executive of Atlas Distribution within Carlsbad. "It makes sense for VF, however does it make sense for Vans? That some tips i would question.In . Atlas owns the Planet Earth brand of clothing along with the Adio brand of skateboard shoes and was received by sporting goods creator K2 Inc. several years ago. This kind of deals were story at the time and motivated one of Planet Earth competition to place ads that sought to depict the company as a sellout. For years, Vans has been in a position to increase business with out losing credibility using core consumers. The corporation was founded in Oc in 1966 as Vehicle Doren Rubber Co. and located a following with skate boarders a decade or so afterwards. Vans strayed from its key audience in the 80s when it started making baseball and football shoes. The high priced expansion forced the corporation into bankruptcy in 1984. Four years later, after emerging from bankruptcy, Vehicles was sold in order to investment banking agency McCown DeLeeuw Co., then went public in 1991. "You can easily count on one hands the number of (action sports) companies that have been able to grow to over $100 million in revenue and retain their own core credibility,Inches said Doug Palladini, director of Cynic Youth, a marketing firm that specializes in the action sports activities industry. |