Jack Robinson (Volcom) is now essentially on the same team as Griffin Colapinto (Quiksilver) and Italo Ferreira (Billabong). Photo: Brent Bielmann//World Surf League
Authentic Brands, owners of Volcom, has made a binding offer to buy Boardriders and its assets which include Billabong and Quiksilver, according to industry publication, Shop, Eat, Surf. The exact asking price was not divulged in the proceedings, but Authentic estimates Boardriders accounts for $2.9 billion annually so the asking price can not be small.
“As an early believer in the global and commercial appeal of action sports, this brings me back to the roots of my early career,” said Authentic founder, Chair and CEO Jamie Salter in a statement to media. “Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership. With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide.”
Boardriders also includes DC, RVCA, and Roxy, among others, meaning Authentic will now own the bulk of traditional brands developed within the surf industry. By the sounds of Boardriders’ heads, all that’s left in the sale is the closing procedures.
“We are proud of our deep connection to the global action sports community, industry-leading brands, and world-class teams,” Boardriders CEO Arne Arens said. “Under Authentic’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories, and grow in white spaces, including premium athleisure, training, and lifestyle.” Translation? More yoga pants.
SES brought up one interesting nugget aside from suggesting this could be the end of Oaktree Capital in action sports, the financial company that rescues distressed entities in debt (which it did for Boardriders). SES suggested that Authentic’s focus on larger retailers (“mainstream – or downstream – channels”) could mean that smaller brands in the surf world could potentially slide into core surf shops to replace these larger names on the racks. That is conjecture of course. The next six months will tell us a lot more.
