Billabong, a surf company/clothing retailer, is considering to streamline its brands and concentrate on Billabong, Element and RVCA labels. Ian Pollard, President, Billabong elaborated, “At the moment we are carefully considering some of our smaller brands, including Tigerlily, VonZipper and Xcel, with a view to possible sales which could cover part of our debt and streamline our brand portfolio.”
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VonZipper is a US specialist in board sports sunglasses, and became part of the Australian Group in 2001, while surfing accessories brand Xcel was bought in 2007. In the same year, the Group acquired for the first time a brand specialized in women’s swimwear, purchasing Tigerlily from its founder Jodhi Meares, for an amount estimated between AUD 3 million and AUD 5 million. The retailer earlier in June this year sold skate hardware brand Sector 9 for around AUD 21.48 million.
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In its last fiscal year, Billabong reported revenue of AUD 1.1 billion, with an EBITDA of AUD 57.5 million. For the 2016-17 fiscal year, which kicked off with a weak first four months, the Group expects an EBITDA ranging between AUD 60 million and AUD 65 million.
