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Quiksilver sells Hawk Designs to Cherokee subsidiary

January 15, 2014 (United States Of America)

Quiksilver, Inc. announced that it sold all of the assets of its licensed apparel subsidiary, Hawk Designs, Inc., to a wholly-owned subsidiary of Cherokee Inc., for $19 million.

In December 2013, Quiksilver completed the sale of Mervin Manufacturing and announced its intention to pursue the divestiture and exit of other non-core businesses, including Hawk Designs, Inc., its majority stake in Surfdome Shop, Ltd., its Moskova brand, and its business under license with Maui and Sons.

Quiksilver said it intends to use the net proceeds of the transaction to reduce amounts drawn on its credit facilities, as well as invest in its emerging markets.


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