Home / Knowledge / News / Apparel/Garments / Billabong to buy art & design-driven brand RVCA
Billabong to buy art & design-driven brand RVCA
12
Jul '10
Billabong International Limited announced it has reached conditional agreement to acquire the progressive apparel brand RVCA.

RVCA, based in California, was founded in 2000 as an art and design-driven brand focusing on a diverse range of activities that both represent and inspire youth.

Billabong International Limited chief executive officer Derek O'Neill said RVCA was one of southern California's most exciting emerging brands.

“RVCA is not defined by any single sport or culture. It represents a community of culturally aware youth and is inspired by a diverse range of interests, each of which is underpinned by an original, highly creative design element,” said Mr O'Neill.

“It is a brand that has developed a very strong presence in the United States, particularly in southern California, on the strength of its fashion-forward ranges in categories including art-driven t-shirts, denim, wovens, boardshorts and, more recently, its girls' line.”

The bulk of RVCA's revenue is currently generated in the US, while its expansion into other key markets including Australia and Europe is in its infancy.

Brand founder Pat Tenore said he and his existing management team will continue to drive the development and growth of the brand.

“RVCA's key strength has been its ability to differentiate itself through creative design,” said Mr Tenore.

“By joining with Billabong we can retain our focus on our creative strengths, while leveraging the distribution and supply chain infrastructure and support of the Billabong group.”

It is anticipated RVCA will contribute approximately 2% of Billabong group revenue and will be EPS neutral in the 2010-11 financial year. The purchase price, which is not considered material, remains undisclosed.

The asset acquisition agreement is subject to usual conditions precedent. Billabong and RVCA anticipate the conditions will be satisfied shortly.

Billabong International Limited


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search