Cost-cutting continues at Quiksilver with Hawk Designs sale
14/01/2014
In December 2013, Quiksilver completed the sale of Mervin Manufacturing and announced its intention to pursue the divestiture and exit of other non-core businesses, including Hawk Designs, its majority stake in Surfdome Shop, its Moskova brand and its business under license with Maui and Sons.
Quiksilver said it intends to use the net proceeds of the transaction to reduce amounts drawn on its credit facilities, as well as invest in its emerging markets.
The company is undergoing an “aggressive multi-year profit improvement plan” which it launched in May 2013.
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