Quiksilver purchased Skis Rossignol for $560 million in 2005, but sold Rossignol on 12 November 2008 for $37.5 million (30 million euros) in cash and a $12.5 million note (10 million euro).[6] Quiksilver owned golf-equipment maker Cleveland Golf until 31 October 2007, when it sold the company to a Japanese sporting-goods company.[7]
In 2009, Moody's included Quiksilver on its Bottom Rung list of companies most likely to default on its debt.[8]
As of 2013, Quiksilver operated 834[9] stand-alone stores in major cities across Australia, New Zealand, and the Pacific, Europe, North and South America, Asia, and Africa]. At that time, the two types of Quiksilver-operated stores were known as either "Boardriders Club" or "Factory" stores. Their products were also sold in many other outlets across the world, such as PacSun, the Fells Point Surf Company, and the Ron Jon Surf Shop. With PacSun's decline in retail prominence, Quiksilver and other brands suffered diminished sales. In addition, the company operated a number of separate Roxy and Quiksilver Youth stores.
As of 2013, the company suffered a financial slump for six years and initiated a turnaround plan in an attempt to resolve this.[10] In September 2015, the company filed for Chapter 11 bankruptcy.[11][12]
Co-founder of Quiksilver Bob McKnight stepped down as CEO on 11 January 2013. He then acted as executive chairman, until retiring in October 2014.[13]Andy Mooney, who was formerly chairman of Disney Consumer Products, served as CEO from 2013 to 2015.[14]
Mooney stepped down as the CEO of Quiksilver and was replaced in March 2015 by longtime Quiksilver employee Pierre Agnes to restructure the brand.[15] In 2015, Pierre Agnes was promoted from president to CEO.
Quiksilver emerged from bankruptcy in early 2016, and the company once again became privately held, with Oaktree Capital Management as the majority shareholder.[16] By the end of 2016, their retail presence had significantly diminished after restructuring by Oaktree.
The company's name was changed in March 2017 to Boardriders, Inc., and it is the owner of the Quiksilver, Roxy, and DC Shoes brands. Boardriders purchased Billabong International Limited in 2018.[17]
On 30 January 2018, the global CEO of Boardriders, Pierre Agnes, was declared missing after his powerboat washed ashore without him near Biarritz, France, after he radioed in to delay his return in thick fog conditions.[18] A search operation by air and sea was launched the same day.[19][20] The search was called off a few days later, as he was declared lost at sea and presumed dead. Dave Tanner, the company's former chief turnaround officer, became CEO on 6 February 2018.[1][21]
Boardriders, Inc. currently owns these brands: Quiksilver, Roxy, DC Shoes, Billabong, Element, Von Zipper, RVCA, and XCEL.
In April 2023, Authentic Brands Group made a binding offer to acquire Boardriders, Inc. for US$1.25 billion.[22]
Roxy
In 1990, Quiksilver launched its sister brand for young women, Roxy. The brand was shuttered after the 1991 surf industry crash, but revived by Bob McKnight and Danny Kwock in 1992, signing Lisa Andersen in 1993.[23] It was differentiated from the main Quiksilver line "for fear it would damage the men's brand", according to Randy Hild, the company's senior vice president of marketing. Roxy was chosen because it sounded like a punk band or club (likely Roxy Music and The Roxy respectively), and is also the name of the daughters of both CEO Bob McKnight and founder Alan Green.[24][25] About 30% of Quiksilver's sales come from the Roxy line.[26]
Since inception, Roxy has grown to be the largest action sport fashion apparel company for young women.[23] In addition to apparel, it now also produces accessories, homewares, hard goods (snow and surf), wetsuits, footwear, and books. It has sub-brands for its children's ranges, Roxy Girl and Teenie Wahine.
In the spring of 2013, the "DVF loves Roxy" collection was released as a one-time limited-edition collaboration line of swim and beach wear as well as accessories.[27]
Brand image
The Quiksilver brand's logo, designed in 1973 by founders Alan Green and John Law,[28] was inspired by Japanese painter Hokusai's woodcut, The Great Wave off Kanagawa.[29] It depicts a large wave with a mountain on a red background. Roxy's heart-shaped logo was created by duplicating and reflecting the Quiksilver logo and rotating both copies at a 45-degree angle.
Controversy
In 2023, a news article from Beach Grit [1] reported that Quiksilver directly copied a design from a small company, Ola Canvas, and their Blackball boardshorts. Quiksilver posted the design on their Instagram account on February 14, 2023 and Ola Canvas posted a response five days later.
^McCracken, Jeffrey (10 March 2009). "Moody's Aims to Be Ahead on Defaults". The Wall Street Journal. p. C1.
^Hamanaka, Kari (13 June 2011). "Quiksilver Comeback: New Stores Planned". Orange County Business Journal. 34 (24): 65. Of these 834 stores, 540 are owned by the company and the rest operate under licensing agreements.
