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.
A special event on ‘The Fit Factor – World class wisdom on fashion sizing and fit’ will bring together speakers from Marks & Spencer, Tesco, C&A and Debenhams in the UK next week....
A tentative agreement on a new five-year contract has been agreed for some 20,000 dockworkers at 29 US West Coast ports, ending nine months of discussions. The Pacific Maritime Association (PMA) and I...
As the threat of a US West Coast port shutdown looms, analysts already estimate the ongoing disruption could add an eye-watering US$36.9bn to costs over the next 24 months. ...
Do you have any burning questions you’d like to ask a renowned global garment industry expert? For free....
- Why should brands care about China cotton?
- Low labour cost countries linked to highest risks
- China cotton: implications and opportunities
- COMMENT: Skills or new technology?
- Who has signed the Bangladesh safety accord?
- South Africa to grow grass for recyclable textiles
- JC Penney share price falls on Q4 loss
- Activewear driving US apparel spend
- Delta Galil open to M&A as profit grows
- Sri Lanka and Bangladesh FTA talks underway
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead