Buy the t-shirt, take the ride!
Oh I know this rumor has been floating around for a few months, even finding seed at The Inertia and Stab now but my sources tell me it’s almost officially official. That Quiksilver has closed out purchase of Billabong which includes MMA brand RVCA. And not really Quiksilver but Oaktree capital. Shall we dig into this sordid affair? Let’s!
You recall that Australian surf giant Billabong was the first of the surf brands to really really really fall on hard times. Their untethered buying spree (Nixon, RadGnar, YoYo Beats, Icezzzcreamzzz, etc.) did not turn out as planned when cocaine fueled the days and cocaine fueled the nights. Thus, Billabong was left in a very precarious position. Their debt and mistakes were scooped up, in form of a loan, by investment group Oaktree Capital, leaving Billabong to limp along with brands RVCA, SupaFly, JZM and CNTMTHRFCKR.
Then you recall that Quiksilver went full on bankrupt with the same Oaktree Capital ushering the brand out of protected lack of money.
So. Oaktree Capital basically “owns” Quiksilver and Quiksilver is buying Billabong x etc. How’s that?
Do you remember when the fantastic Malibu brand Brothers’ Marshall did their QuikBongRip t-shirts and when they got taken down under threat of lawsuit?
Wait. Have I written this story already last year? Do you remember reading it? I vaguely remember writing it.
P.S. Real quick. I’ve wondered about this for years. Who in hell buys a Maserati? That photo is from Stab and so maybe Stab people dream in Maserati? I don’t get it. At all. Maserati. Very unfortunate.
Commented on Disqus? Log out, tap the Disqus button, and your old name and comments come back. The box is ours.
Your comments are still here. Every one of them.
Twelve years of BeachGrit comments came across from Disqus. Connect and we will show you how many are yours. We get your username, nothing else.
Connect Disqus to reveal.
Can i still get my Metallica branded below knee boardies? That’s all that matters
BONDS are slowly circling the wagons ! The wife beater and stubbies combo will take America and the world by storm ….mark my words!
Why is it supposed to be interesting that surf industry titans like(d) coke?
they’re just doing their best to act like industry titans, no?
Chas – you will get a kick out of the latest article from the Inertia (Venice adjacent sometimes Mountain Bike Porn Website) – http://www.theinertia.com/m…
This represents the little know and rarely discussed 8th sign of the apocalypse.
https://www.youtube.com/wat…
Might want to hang on to that one.
Former….is the FUTURE!
so if Kelly still holds a majority shareholder stake at Quiksilver does this mean he now owns part of Quik, part of Billabong/RVCA?
No, Billabong and Quik are different companies, but effectively like brother and sister. Oaktree is like Mr and Mrs Wright, and Billabong and Quik are like Owen and Tyler. And if Owen decided to fu…. oh, no I won’t go there yet….
Unless KS anf his Firewood friends are part of Oaktree. Seems odd they spend so freely on a shrinking industry while ‘winning’ these companies at bid. You’d think the pool thing would have encouraged another vulture onto the death pile called the surf industry
No. There is no more shareholding of Quiksilver. Quik is now just a brand under the wing of a holding company called Boardriders Inc. I imagine these new purchases will go into the Boardriders Inc holding next to Quik, Roxy etc. I think Oaktree is doing everyone a big favor here. By effectively neutering the last of any entrepreneurial energy in these once very energetic and creative brands, they’re perhaps unintentionally opening the door to another wave of energetic start up type people, quite a few of whom are already up and ready to run.
So Chas heard a rumor that the rumor might be true? That’s some fucking journalism right there.
Right? I was pretty pleased with myself too.
Don’t you think that Quik got into problems before BBG , as they lost money for 10 years had to go to New York get finance , give up 2 board positions and gave up a big percentage of their stock ??
Will Oaktree consolidate Quik/Bong under the same corporate HQ?
Ibogaine and Surfing….
Inter fucked company trading is loophole heaven. It’s like if Chas owes me five bucks and Derek owes Chas five bucks but some cunt who I don’t know owes Derek five bucks and you guys just go “oh that cunt owes you five bucks”. Or something.
Can you explain cryptocurrency in the same way for me please.
That’s where Rielly owes longtom for some work and offers to pay him in some pretend money he just made up on the spot.
Ok sold I’ll invest
I’ve been dealing in this currency called “Set Waves” since the late 90’s. I am yet to see a return on my capital.
That’s because you sit there waiting patiently for the best ones and when they come, they shift just out of reach or land on you.
You have to go nuts, back paddle everyone, drop in and then you might get some returns.
I’ll be forever broke, but I do earn a living when I surf Winki. Game face time.
In Sumbawa many moons ago, a group of Hawaiian dudes would sit waiting for the one 6′ set on a 4′ day. They’d sit there waiting 20m further out than everybody else, letting perfectly good waves slide on by. Then the set would come, they’d catch the biggest waves while everyone else floundered about trying to get out of the way. And then they’d wait 2 hours for another one. Not sure what the investment return was on that, but it sure was an interesting take on the situation.
Possibly because some individuals give them away
I’ll try: Derek has decided to come up with his own currency, he’s called them “Dezzas” but he’s only going to make a 100 of them, no more.
You can’t physically hold Dezzas, you can’t keep them in a bank, they are make believe and you have to keep them in a make believe wallet.
He then starts telling his mates about Dezzas and how it’s the currency of the future and tries to sell them. Chas worships Derek and even tho he doesn’t quite understand how Dezzas work he agrees to buy a couple of Dezzas for 20 cents. Chas then feels a little foolish but starts a rumour that Dezzas are like so in right now to cover up his foolish purchase. Some cunt believes this rumour and wants in so buys Chas’ Dezzas for 40 cents.
Another cunt, who sees himself as a savvy investor & has shares in all the major surf brands and an online surf retailer, let’s call him Nick, sees that the price of Dezzas has doubled in a short time so buys some for 60 cents. 1000 other cunts like Nick see the price of Dezzas going up so all start buying them and the price sky rockets.
Meanwhile no one really understands what they will use Dezzas for.
Ok I’m in
I’ll take 20 Dezzas and 8 Chazzas.
The price of Dezzas is too high now, you want to buy a different make believe currency that is cheap now but will go up because of the hype surrounding Dezzas. So don’t buy the Dezzas but load up on the Chazzas.
Ok and when do I sell Chazzas.
That is up to you but don’t get too greedy, anyway got the Maserati booked in for a tune up so got to go. Good luck!
And don’t forget to HODL!
There is nothing in the world that I loathe more than that particular meme right now!
And I’m wondering, is it a bubble now that we are discussing this on BG? Should I sell?
Depends what you’re hodling!
Amazing.
This is absolutely fucking brilliant.
There is no way you’re not Satoshi Nakamoto.
meanwhile i’m buying processors to build my Dezza mining rig but it sucks up all my power so i really have to subtract the real money i’ve spent generating theoretical coins
Yeah it’s easy, just go in blind because fomo and come up smelling like roses. Or shit.
Ok if you say so Dogs. I actually gave my housemate who is a chef and knows nothing about it money to invest in some new thing which is good because he used to have a gambling problem and now this keeps him busy.
You took a gamble on giving an ex gambler money. This is so bad it had to be good!
Not to worry, just all of my savings.
wait, I thought Fomo was that new, hot shaper that keeps building boards based on the formula Pi squared 3.14159^2
I love my Fomo Fevo….
Oh yeah, they were a bubble. Or just a freak one good board.
When I think of Oaktree Capital and these once upon a time surf company giants, I think one’s the gobbler, and one’s the gobbled. Then my man-child brain summons this mental image:
https://youtu.be/8HPI_HT6yjo
Gotta love a bottom feeder.
Ziff and Oaktree Capital have met, don’t you think? The WSL loves this shit. Iggy Pop’d stooge splooged it’s blazing saddled floors. Consolidation of the scum. The ability to steer everyone in the same direction.
You do your part, we’ll do ours sort of thing.
Expect Iggy live in Lemoore!
As we speak, Kelly is working on his harmony parts for what has become the KS-classic lyric altered schtick. An Iggy Pop/Kelly Slater Duet of “I Need Lemoore”
…or a camped-out duet version of ‘I Wanna be Your Dog”, with Kelly on all fours.
Cocaine fuels the purchase of a Maserati!