AUSTRALIA: Billabong considers sale of e-commerce units
Billabong is considering selling its e-commerce businesses SurfStitc and Swell
Billabong has said it will consider selling its e-commerce businesses as the struggling Australian surfwear brand continues with its ongoing turnaround efforts.
The company, which has been mired in uncertainty and under-performance for over a year, will undertake a strategic review of its multi-brand e-commerce operations SurfStitch in Australia and Europe, and Swell in North America.
A range of options will be evaluated to help the company maximise the value of these businesses, including a possible sale.
"As previously announced at our December AGM, our strategic priority is to focus on our direct to consumer mono-brand model across our retail and online operations. This review will assist us in evaluating options for the multi-brand SurfStitch and Swell e-commerce businesses," said CEO Neil Fiske.
"Given the consistent growth and performance of these assets, we believe that there is an opportunity to progress our mono-brand e-commerce strategy and at the same time unlock value for Billabong shareholders."
In addition, the company has extended its agreement with RVCA, its fastest growing global brand, to 2018.
Billabong has also completed the sale of its West 49 chain in Canada to YM Inc for CAD3m (US$2.7m), which was lower than its initial expectations of CAD9-11m. This was due to seasonal end-of-year trading and other factors contributing to lower working capital on closing.
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Australian surfwear brand Billabong is positioning its supply chain on the GT Nexus' cloud-based platform to support the transformation of its wholesale and retail businesses....
Introduction Womenswear in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The pr......
Introduction Menswear in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The prof......
Apparel Retail in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile als...
Apparel Retail in New Zealand industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile a...
Fox’s main goal is to expand its product portfolio by adding more brands under the Fox umbrella. Fox Group operates 309 stores under the Fox network (162 stores), Laline (84) Billabong (27), Fox Home ...
- Why China 5-year plan won't change garment-making
- ‘Fixing Fashion’ one stitch at a time
- Navigating a turbulent sourcing landscape
- Supply chains under pressure as Black Friday looms
- C&A building brand loyalty through consistent fit
- US Q3 in brief: Burlington Stores, Guess, Chico's
- Adidas has greenest textile supply chain in China
- Global clothing and footwear trade to drop by 1.5%
- Cambodia living wage campaign kicks off
- New Balance launches first 3D printed running shoe
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Technical Textile Markets: Product Developments and Innovations - 2nd Quarter 2015