Blog: Billabong buy takes another turn
Leonie Barrie | 21 January 2013
The race to buy Australian surfwear brand Billabong took another turn last week with a new bid from VF Corp and private equity firm Altamont Capital Partners. The AUD524m (US$551m) offer matches another tabled last month by North American division boss Paul Naude and Sycamore Partners.
The latest move means that four potential suitors have now circled the brand over the past year. But why has none of this interest yet turned into a deal? just-style asks "What's wrong with Billabong?"
But a deal to sell US-based footwear maker K-Swiss to South Korean apparel conglomerate E-Land World for US$170m is set to close during the second quarter of this year. E-Land is planning to invest in global growth for both the K-Swiss and Palladium brands.
Meanwhile, retail giant Wal-Mart has pledged to increase the amount of apparel it sources from the US, in a bid to boost domestic manufacturing and create more jobs. As part of this effort, Wal-Mart says it will buy an additional US$50bn in US-made products over the next ten years.
With wages and fabric prices, infrastructure, social tension, energy costs, currency rates, power availability and a buyer's ability to control the uncontrollable all influencing apparel sourcing decisions, this month's Flanarant argues that unpredictability will continue to rule in the year ahead.
Vietnam, however, is aiming to become one of the top five textile and clothing manufacturing and exporting nations by 2020, while simultaneously fostering social improvements and environmental well-being, according to recent research.
On the retail front, US clothing stores registered sales increases in December, but economic uncertainty continued to impact the sector as a whole. While in the UK, clothing and footwear sales volumes fell 3.5% during the month.
And having spent much of the past 12 to 18 months developing offerings for both customers and staff across multiple touch points, the next challenge facing fashion brands and retailers is to connect the multi-channel dots as stores, desktop and mobile channels merge.
The Cotton Incorporated Blue Jeans Go Green denim recycling programme has joined forces with singer-songwriter Sheryl Crow to call on consumers to recycle their unwanted denim to help rebuild New Orle...
A number of reports and events last week to mark the second anniversary of the Rana Plaza disaster all emphasised that while progress has been made towards a safer garment industry in Bangladesh, some...
H&M's new Conscious Exclusive collection, which launched this week, proves that high street fashion can be sustainable. And as the line gains momentum it’s using more diverse materials, including recy...
After its hashtag was the number one global trend on Twitter last year, Fashion Revolution Day is returning tomorrow (24 April) to honour the mark the second anniversary of the Rana Plaza disaster....
- Cotton “too diverse” for fixed sustainability plan
- Three tipping points for RFID in fashion
- China undisputed giant of garment exports
- Capacity building key to Myanmar momentum
- DENIM DAYS: Suppliers weigh up industry challenges
- SOURCING: Global sourcing snapshots launched
- Nike criticised over Vietnam sourcing ethics
- Wal-Mart silent on Rana Plaza lawsuit
- Nike launches women's kit from recycled polyester
- VF Corp lifts outlook despite Q1 profit fall