Surf lifestyle firm Quiksilver has announced a joint venture (JV) with PBM International to take its Quiksilver and Roxy brands to the Mexican market.

Quiksilver will hold a majority stake in the joint venture, which will be responsible for setting up a distribution network of company-owned retail stores as well as a wholesale business that will include licensed retail stores, large key accounts and small independent retailers.

The deal furthers Quiksilver's strategy to own and operate its business in a growing number of key territories.

Mexico boasts a number of popular high-end surfing and travel destinations in several coastal cities in Baja and mainland Mexico.

Quiksilve president Bernard Mariette said: "This is another important step in the advance of our strategy to become the world's leader in the outdoor sports lifestyle market. We are excited for the development of this venture and believe it will prove to be quickly successful."

PBM CEO Mauricio Brener said: "We intend to proceed purposefully with expansion into key markets in Mexico with strong retailers and to develop compelling destination retail stores to enhance the communication of the lifestyle and to maximise our opportunity."

PBM is a leading branded and licensed apparel marketing and distribution company in Mexico and distributes footwear, apparel and accessories under the names Le Coq Sportif, Arena, and FIFA.

Quiksilver is a leading outdoor sports lifestyle company which designs, produces and distributes a diversified mix of branded apparel, winter sports and golf equipment, footwear, accessories and related products. The company's products are sold in more than 90 countries at present.

The firm signed a deal with Sprandi International back in June to distribute the Quiksilver and Roxy brands in Russia.