Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Spyder, and Volcom are under new leadership in Australia, New Zealand, and South Pacific.
Authentic Brands Group, which owns the brands, announced Wednesday that Australian company Caprice now has the license for the brands in the region. Caprice has also acquired the operational arm of the business from former licensee Liberated Brands. (Read SESO’s previous story about the acquisition of the operations via the U.S. bankruptcy court here.)
Caprice Australia is a large company that operates in a wide range of sectors including bedding and accessories, kitchen and dining, apparel and footwear, seasonal products, and bags and luggage.
The newly formed division that will manage the brands under Caprice is called BR South Pacific (BRSP).
Caprice is taking on the surf brands’ 200-door retail fleet, the wholesale and ecommerce platforms, the staff and the operations.
“We are incredibly proud to bring these businesses back to an Australian-owned brand operator,” Caprice CEO Paul Cannon said in a statement. “These brands have a profound impact on shaping surf culture worldwide, and we are committed to honoring that legacy while evolving to inspire and connect with next generation”
Cannon answered some questions from SESO about why the company was interested in getting into the surf and action sports space.
Why does Caprice want to license these brands?
Caprice CEO Paul Cannon: We are always looking for new opportunities and to grow and expand our business.
These are legacy brands that resonate deeply with consumers and given our long history in this market, we believe they present strong opportunities.
The fundamentals of BSRP are strong and brand portfolio represents a diversified demographic and gender offering that allows for great product and segment growth.
Where do you see growth opportunity for the brands?
Paul Cannon: We certainly see growth opportunity to explore category width that has been stifled under the current trading model. Opportunity also exits to further grow all business platforms including retail, ecommerce and wholesale.
Is Caprice also taking on the substantial retail fleet in the region? If so, why, and how many stores are involved?
Paul Cannon: Yes, we are taking on and keeping all retail formats through the region.
We see retail as a vital element of the South Pacific market where our customers can experience our products and marketing stories directly from us. The existing network of over 200 stores we are inheriting, brilliantly showcases the brands through signature Boardriders stores in key surf locations including Torquay, Gold Coast and Bali.
Throughout Australia, New Zealand, Indonesia & Thailand, we also have several mono branded stores in coastal locations and a large network of SDS & Amazon multiband brand stores serving boardsports customers.
Ensuring that we continue to work closely with our wholesale partners, the business will invest in enhancing the omni-channel experience for our customers.
Will you keep the same Liberated team, including the leadership, in place?
Paul Cannon: Yes, the local Liberated team has done an amazing job managing these brands and business during the challenging ownership periods. They bring deep knowledge and a passion for the brands that will hold us in good stead as we move forward.
How would you describe the state of the surf industry in Australia and New Zealand now?
Paul Cannon: The industry is in a healthy place, with participation in the sport continuing to grow on all levels.
Inventory management for most businesses has been a key focus post COVID, which has further entrenched the premium position of surf in this market. With the current trend of heritage looks with strong branding resonating, we are seeing a growing demand for our brands, and we are attracting new customers in our key youth markets.
What capabilities does Caprice bring to the table that are helping the brands and operations?
Paul Cannon: Caprice was established in 1959, and we bring a wealth of expertise in manufacturing, sourcing, product development, strategic planning and pure brand play.
We also have a deep knowledge of brands and can leverage that strength for brand enhancement. This coupled with the existing exceptional team at BRSP and with Authentic’s brand management, we are confident we will deliver on all our key business imperatives.
