A New Name and New Look
Written by SurfWriter Girls Sunny Magdaug and Patti Kishel
When you wipe out on a wave you go back out again.
And that's what giant surfwear retailer Quiksilver is doing this year after coming out of bankruptcy proceedings with a new outlook and a new corporate name – Boardriders.
New owner Los Angeles-based private equity firm Oaktree Capital Management is focused on a three-to-five-year plan that streamlines processes and brings Quiksilver – and its corporate siblings Roxy and DC Shoes – closer to its markets.
Quiksilver – the once high-flying company that led the surf industry with a $2 billion valuation – tried to be all things to all people and lost sight of its objectives. Instead of focusing on its strengths and loyal customer base it added other things like skiing and even golf to the lineup.
Now the goal is to be more responsive to customer needs and trends and reduce excess inventory buildups. Planning is critical...and working as one global team with shared goals.
With the appointment this summer of former Navy Seal and ex-Oakley executive Nate Smith as President of the Americas Region, Oaktree is putting in place someone with strong leadership skills and business experience to re-energize the Quiksilver brand.
SurfWriter Girls Sunny Magdaug and Patti Kishel have been following Quiksilver since 2011 and are interested to see how it implements the latest changes.
Along with the new name, Quiksilver stores are getting a new look with stores poised to become social hubs that provide food and live music along with fashion. The company says it wants to give customers an "experience rather than just selling products"
This approach is also geared toward getting the next generation of surfers - millennials - in the door.
With the redesigned Boardriders stores already in Europe and Australia, North America is on the radar now. Malibu – scheduled to open soon – will be the first.
As we all know, retailing is constantly changing – with everything from online sales and aerial drone deliveries to pop-up stores and mobile apps on the scene. There's always something new on the horizon.
Boardriders is looking ahead and eager to catch the next wave!
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