Surf wear chain catches Billabong wave

He also wants to move away from multi-brand retail such as Surf Dive ‘n’ Ski and Swell in favour of single-brand bricks and mortar and online stores, emulating brands such as Kathmandu. "In recent months we have begun the process of taking over the branded websites previously outsourced to SurfStitch," Mr Fiske said. "With these agreements we can accelerate our investment in the online presence and digital marketing of brands such as Billabong, RVCA and Element.

Billabong will continue to supply product to SurfStitch and Swell. "We’ve valued the close relationship with Billabong and, like Neil, we’re glad it’s one that will continue," Mr Cameron said. 3 Billionaire Gerry Harvey reveals the fantasy behind … 4 News Corp threatens ‘action’ over leaked … 5 Kim Williams says poor News Corp figures are not his …

SurfStitch, which is controlled by former investment banker Justin Cameron and his business partner Lex Pedersen, bought Billabong’s 51 per cent stake in SurfStitch Australia and Europe and Billabong’s North American online business, Swell. com, for about $35 million.

He hopes to reinvigorate sales and profit growth by building the three biggest brands - Billabong, RVCA and Element - simplifying the business by reducing the number of products and stores, cutting costs to build a marketing war chest, and improving Billabong’s supply chain by moving to fewer, bigger, suppliers.

Read more here: SMH


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