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| 241px | |
| Type | Public |
|---|---|
| Traded as | ASX: BBG |
| Industry | Retail |
| Founded | Gold Coast, Queensland, Australia (1973) |
| Headquarters | Burleigh Heads, Queensland, Australia |
| Key people | Derek O'Neill, CEO Ted Kunkel, Chairman |
| Products | Apparel, sporting goods |
| Revenue |  A$1.79 billion (2011) |
| Net income | A$126.2 million (2011) |
| Employees | ~6,000 (2011) [1] |
| Website | www.billabong.com |
- For other meanings, see Billabong (disambiguation).
Billabong International is a clothing company traded on the Australian Securities Exchange since 11 August 2000. Billabong was founded in 1973 by Gordon and Rena Merchant. The name came from the same word billabong, which is a stagnant body of water attached to a waterway.
As well as the Billabong brand-name, the company sells surfwear and accessories under the Palmers Surf, Honolua Surf, Swell.com, Von Zipper, Kustom (footwear), Nixon, Xcel Wetsuits and Tigerlily brands, and also Element skate clothing and hardware. The brands are available at various surf and skateboard stores locations.
As of February 2012[update], Billabong has 677 company owned stores worldwide.[2] In 2011, the company had about 6,000 employees worldwide.[1]
Contents |
Revamp [link]
On 16 February 2012 trading in Billabong shares was halted at the companies request because of reports of a A$776 million takeover offer from TPG Capital, a United States private equity firm.[3][4]
On 17 February 2012, Billabong announced it intentions to undergo a major restructure. Up to 150 stores will be closed.[5] 400 full-time[2] jobs will be lost internationally, including up to 80 in Australia. 48.5% of its' Nixon watches and accessories brand name will be sold to Trilantic Capital Partners (TCP) to establish Nixon as a joint venture.[3]
The partial sale will give approximately $US285 ($A265.78) million in net proceeds to Billabong. It is intended that proceeds from the sale will be used to reduce debt.[3] In February 2012, TPG Capital made two takeover proposals which were both unaccepted.[6] Billabong announced that Gordon Merchant, who owns 15% of the company's shares, had rejected the both offers.
Profitability [link]
In 2000, the company was listed and had sales of $225 million, growing to $1.7 billion in 2011.[5] Profits of $249 million were achieved in 2007.[5]
For the six months to December 31, 2011 Billabong had a 71% drop in net profit to A$16.097 million.[3]
Acquisitions [link]
As the brand has matured the company acquired new brands as well as retail outlets so it could move on from the being a wholesale business.[5] Von Zipper was acquired in early 2001.[7] Element was acquired in July 2002.[8] Element is a dominant player in the skateboarding apparel and hardgoods market.
Kustom and Palmers Surf were acquired in October 2004.[9] Nixon was acquired in January 2006 from founders Andy Laats and Chad DiNenna. Nixon is a dominant player in the boardsports watch market.[10] Xcel was acquired in September 2007. The brand, a premium United States-based wetsuit and technical watersport accessories brand established in 1982. It's focused on producing surfing, diving (recreational and military), ocean paddling, sun protection and wakeboarding markets and was recently awarded the "Wetsuit of the Year" title by the Surf Industry Manufacturers' Association.[11]
Tigerlily was acquired in December 2007 from founder Jodhi Meares.[12] Quiet Flight Surf Shop, a chain of retail stores on the East Coast of the United States, was acquired in June 2008.[13] DaKine (backpacks, luggage, extreme sport accessories) was acquired in June 2008. Sector 9, a manufacturer of longboard skateboards, was acquired in June 2008.[14]
Two Seasons, a 22-store multi-brand retail chain in the UK, was acquired in November 2008[15] Merged with Surf Warehouse, Quiet Flight Surf Shop, and DUBii Apparel in 2008. They also bought a WMS System to try to streamline their distribution and outgoing freight costs. They also took over the company rights to DaKine.[16]
Swell, A San Clemente surf clothing and lifestyle apparel and gear company, was slated to be purchased by Billabong on December 2009. RVCA, A Costa Mesa action sports apparel company, was slated to be purchased by Billabong on 12 July 2010. West 49, a Canadian sportswear retailer was the next to be acquired by Billabong, also reported on 12 July 2010. Surf Dive 'n' Ski/Jetty Surf, an Australian surf retail chain bought from the General Pants Group in November 2010, for an undisclosed amount.[17]
Team [link]
Surfing
The A Team
Freesurfers
- Mark Occhilupo
- Donavon Frankenreiter
- Dave Rastovich
- Wade Goodall
- Manoa Drollet
- Shane Dorian
- Dylan Longbottom
- Luke Egan
See also [link]
- List of companies of Australia
- Billabong Pro Jeffreys Bay
- Billabong Pipeline Masters
- Billabong Pro Teahupoo
References [link]
- ^ a b "Corporate Overview". Billabong. https://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-homeprofile. Retrieved 28 May 2012.
- ^ a b Manning, Maria (17 February 2012). "Strategic Capital Structure Review Update" (PDF). Billabong International Limited. pp. 3. https://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTI2ODQxfENoaWxkSUQ9LTF8VHlwZT0z&t=1. Retrieved 17 February 2012.
- ^ a b c d "Billabong to axe 400 jobs in major revamp". Sydney Morning Herald. AAP. 17 February 2012. https://news.smh.com.au/breaking-news-business/billabong-to-axe-400-jobs-in-major-revamp-20120217-1tcw7.html. Retrieved 17 February 2012.
- ^ O'Brien, Simon (Senior Adviser, Listings, ASX); Manning, Maria (Billabong Company Secretary) (16 February 2012). "Billabong International Limited - Trading Halt" (PDF). Australian Stock Exchange. pp. 2. https://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTI2NTk0fENoaWxkSUQ9LTF8VHlwZT0z&t=1. Retrieved 17 February 2012.
- ^ a b c d Elizabeth Knight (25 February 2012). "Billabong's wipeout is a tragedy of errors". Brisbane Times (Fairfax Media). https://www.brisbanetimes.com.au/business/billabongs-wipeout-is-a-tragedy-of-errors-20120224-1ttjz.html. Retrieved 25 February 2012.
- ^ Scott Phillips (28 February 2012). "Billabong - don't sell this board short". The Sydney Morning Herald (Fairfax Media). https://www.smh.com.au/business/motley-fool/billabong--dont-sell-this-board-short-20120228-1u0p2.html. Retrieved 28 February 2012.
- ^ Billabong Buys Von Zipper
- ^ Billabong International Buys Element
- ^ Billabong Purchases Australian Shoe Brand Kustom
- ^ Billabong Acquires Nixon
- ^ Australia's Billabong buys U.S. surf gear retailer Xcel
- ^ (6 December 2007). Billabong acquires Tigerlily brand. Thomson Reuters. Retrieved on 20 December 2011.
- ^ Billagongbiz.com
- ^ (2 July 2008) Billabong goes longboarding. Sydney Morning Herald. Fairfax Media. Retrieved on 20 December 2011.
- ^ Billabong buys Two Seasons
- ^ Billabongbiz.com
- ^ Businessreviewaustralia.com
