20 Apr. 2010
QUIKSILVER SELLS ITS SWIM BRANDSQuiksilver, Inc. has reached an agreement to sell its Raisins portfolio of swim brands to AOM Holdings' Breaking Waves International. The brands, which Quiksilver has operated since 1994, include Raisins, Raisins Girls, Leilani, Island Soul and Island Escape. Brian Ivanhoe, Vice President of Raisins for Quiksilver, will join BWI as of May 1 as Executive Vice President of Raisins Swimwear. The brands will continue to be designed in California and distributed to specialty surf and department stores throughout the US and Canada, according to a statement issued by BWI.
“As we review our operating priorities we are keenly focused on our core businesses of Quiksilver, Roxy, DC and, increasingly, Mervin. In that context, and after evaluating opportunities for our other women’s swim brands, we felt the best course of action for our shareholders, our customers and our employees was to sell these women’s swim brands to AOM Holdings, who came forward with an attractive offer. AOM has extensive experience in the swim category and we are pleased that they have expressed their intent to continue to operate these brands within their existing channels of distribution,” said Craig Stevenson, President of Quiksilver Americas.
He added: “We intend to work toward a smooth transition of the business. Our team will continue to ship our spring and summer 2010 order file - including reorders - throughout the current swim season. The first line releases from AOM will begin with the Spring 2011 season.”
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