US: Quiksilver sells Hawk Designs as turnaround continues
Early last year, Quiksilver unveiled a multi-year plan to try to return to profit
Quiksilver has sold all the assets of Hawk to a wholly-owned subsidiary of global brand management business Cherokee for US$19m, it said today (13 January).
The company intends to use the net proceeds of the transaction to reduce amounts drawn on its credit facilities, as well as invest in its emerging markets, it said.
Early last year, Quiksilver unveiled a multi-year plan to try and return to profit by focusing on its three core brands - Quiksilver, Roxy and DC - globalising key functions and reducing costs.
In December, it completed the sale of Mervin Manufacturing and announced its intention to pursue the divestiture and exit of other non-core businesses, including Hawk Designs, its majority stake in Surfdome Shop, Ltd., its Moskova brand, and its business under license with Maui and Sons.
Last month, the firm swung to a fourth-quarter loss and booked a drop in revenues.
Apparel and textile companies seeking to make their supply chains more sustainable have increasing options to adopt 'greener' innovations - from developments in organic cotton to software monitoring t...
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories:...
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories: acquisitions, divestments and mergers; corpora...
Surf-led fashion business Quiksilver has completed the sale of its majority stake in Surfdome to Australia's SurfStitch Group....
Global brand management business Cherokee Global Brands has booked an increase in third-quarter earnings and sales, and says it is exploring expansion in Central Europe....
Global brand management business Cherokee Global Brands has joined forces with India's Reliance Retail to develop a brand concept to be launched in India....
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