Billabong looks to sell smaller brands - sportstextiles: Lea SportsTextiles

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Billabong looks to sell smaller brands

23/11/2016
Surf and ski brand Billabong plans to divest some of its smaller brands, including Tigerlily, VonZipper and Xcel, in order to pay off around $200 million in debt and to streamline its operations. 

The company reported a net loss of $17.5 million in the 2016 fiscal year, despite sales growth across its largest brands. Total sales for the year were up 4.6% at $813 million. 

Billabong expects earnings for the first half of the 2017 fiscal year, which ends on December 31, to fall sharply due to inclement weather in Australia and Europe. Sales have also been below expectations in Asia-Pacific. 


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