Off the Wall Street.
Surfers, everywhere, became extremely nervous, as the sun rose on financial markets, after learning Vans had lost an eye-watering $400 million just this year. The iconic waffle-soled shoe, crafted by Paul Van Doren and his brothers in 1966 and sold from a neat little store front in Anaheim, instantly became a favorite with the region’s many skateboards and surfboarders, as they were extremely cheap.
The slip-on checkerboard shot to international fame after appearing in the coming-of-age comedy Fast Times at Ridgemont High in the 1980s and it seemed as nothing would, or could, ever slow company growth.
Vans, shiny and hip, opened skateparks, launched candy punk tours and sponsored the US Open of Surfing through the 1990s into the 2000s, partnering with VF Corp in 2004, and the sky remained the limit. Profit impossible to miss.
Well, surfers, everywhere, should know by know that nothing lasts forever. Vans, like the rest of the surf industry, went into a tailspin 6ish years ago and has yet to recover, each year looking bleaker and bleaker no matter what new products are injected into the market.
Surf booties even failing to provide lift.
And now it has been revealed by Superline Network that the brand lost the aforementioned $400 million figure, revenue falling by 22% this last quarter and 16% to date.
VF Corp’s revenue, in turn, dragging down by 5% even though its other major labels North Face and Timberland saw growth over the same period.
Surfers, everywhere, wondering if the shop will be closed entirely.
Superline Network, continuing to report, shared that VF Corp is not worried and “insists the downturn is part of a broader strategy to revamp and strengthen the brand.”
Hmmmm.
How much money do you think BeachGrit should lose to strengthen its brand?
Also, if Vans shutters, what shoe will you replace with?
More as the story develops.
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In other news, Doc Martens just about to go broke as well.
I thought the Gudangs were a great fit. You can’t get any more breezy California cool than those guys. They would have sold millions of Vans in Japan alone. Joel too.
Vans started making their own version of crocs a few years back. There is no coming back from decisions like that. Note to every core business out there. Pick your lane or pick your trend.
They might have been comfortable in the 60s when the only competition was Chuck’s or maybe the desert boot, but they feel like you’re wearing a brick strapped to your foot.
Ok, so who went and got all their posts deleted?
Haha no and my shit coins are fucked!
Xox
Hari bol
Where are you getting these figures from? They are way off.
Itll be in the last place they look.
Just get a pair of crocs and give up on life already.
Why did Vans never sponsor Matt Archbold?
Cause Vans never had arch support.
when one of my 14-year-olds doesn’t grab it first…
Karma for what they did to the Triple Crown.
Seriously and the negative impact on my surfing if they go bust is zero.
Sad news Folks. GROGGO just got a 4th in his heat, Yet Chloe Peterson advanced
looking forward to heats 10, 12 and 13 to see the local boys at home.
US still paying for prior tax cuts for billionaires and corporations
What a fucken shit article. Vans down 22 and 16 percent. The whole fucken world is.
I just want to know who is actually making the coin off of all the turmoil! Cunts!
Xox
Donny TACO…..and fiends
Can’t believe someone who has list everything due to his cuntiness hasn’t picked him off.
Xox
I do kind of dig the Van’s Half-cabs, but eventually the soles start coming off— guess they’re not vulcanizing them like they used to.
Vans still has some surf-cred left for me — Not total sell-outs like a lot of the surf industry.
Does a win in a Challenger Series competition also give the surfer points on the QS tour?