Billabong backs away from multibrand e-commerce - sportstextiles: Lea SportsTextiles

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Billabong backs away from multibrand e-commerce ventures

27/08/2014
Boardsports brand Billabong is to sell its e-commerce interests in SurfStitch.com (which sells to consumers in Australia and Europe) and in Swell.com (which sells to people in North America).

Billabong has a 51% stake in SurfStitch.com and is the 100% owner of Swell.com. It said on making the announcement that it wanted to concentrate on a “direct-to-consumer omni-channel model across its global operations”.

A consortium of investors, including SurfStitch founders Justin Cameron and Lex Pedersen, will pay Billabong a reported Australian $35 million in the deal. Completion is expected in mid-September. Billabong will continue to supply its products to both websites.

Commenting on the development, Billabong chief executive, Neil Fiske, said: “With these agreements we can accelerate our investment in the online presence and digital marketing of brands such as Billabong, RVCA and Element, which will engage our core consumers and in turn benefit the wider business. We believe there is an enormous untapped opportunity here for the company.”


Related stories:

Billabong makes dent in counterfeit products 27/10/2015
Billabong posts first profit since 2011 28/08/2015
Billabong ups support for health services through SurfAid 02/04/2015
Billabong returns to profit after three years of losses 27/02/2015
Supply chain team gets a shake-up at Billabong 01/09/2014

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