Quiksilver details new goals
Coming on board in January as head of Quiksilver, President and CEO Andy Mooney unveiled the Quiksilver group’s new roadmap theme in March: refocus on the three core brands — Quiksilver, Roxy and DC.
Now those goals have been clarified and quantified as the group says it expects to increase its EBITDA by $150 million or the double of its last fiscal year.
And to get there, besides focusing on its three core brands, the group wants to increase sales and improve its operational efficiency, including reducing costs and centralizing key functions such as product design, marketing and retail. But it also wants to reduce the number of product SKUs by 30%. The board sports group could also give up new peripheral brands and produce secondary products under license.
“We have already begun taking action, having established a global organizational structure. We divested several non-core brands, VSTR and Summer Teeth, and discontinued the Quiksilver women’s product line to clarify that brand’s position. We also significantly pared down our roster of sponsored athletes,” said Andy Mooney, whose company ended its fiscal year on October 31 with revenues of 2.01 billion dollars.
Copyright © 2022 FashionNetwork.com All rights reserved.