Quiksilver

{{Short description|Brand of surf-inspired apparel and accessories}}

{{Other uses|Quicksilver (disambiguation){{!}}Quicksilver}}

{{For|the chemical element also known as quicksilver|mercury (element)}}

{{Infobox company

| name = Quiksilver

| logo = File:Quiksilver-brand.svg

| logo_size = 250

| logo_caption =

| former_name = Quiksilver, Inc.

| type = Private

| traded_as =

| founders = Alan Green and John Law

| area_served = Worldwide

| key_people = Dave Tanner (CEO){{cite news |last1=Connelly |first1=Laylan |title=New leadership announced for Quiksilver and Boardriders after CEO lost at sea |url=https://www.ocregister.com/2018/02/06/new-leadership-announced-for-quiksilver-and-boardriders-after-ceo-lost-at-sea/ |access-date=11 March 2019 |work=OC Register |date=6 February 2018}}

| industry = Sports equipment

| foundation = {{start date and age|1969}} in Torquay, Australia

| location_city = Huntington Beach

| location_country = U.S.

| genre =

| services =

| revenue = {{profit}} US$1.81 billion (2013){{cite web |url=http://ir.quiksilver.com/phoenix.zhtml?c=110264&p=irol-reportsannual |archive-url=https://archive.today/20140828040016/http://ir.quiksilver.com/phoenix.zhtml?c=110264&p=irol-reportsannual |url-status=dead |archive-date=2014-08-28 |title=Annual Reports / Investor Relations / Quiksilver Inc / Quiksilver - Quiksilver Inc |publisher=Ir.quiksilver.com |access-date=2016-02-21 }}

| operating_income =

| net_income = {{profit}} US$82.3 million (2013)

| assets =

| equity =

| num_employees = 5,700

| parent = Authentic Brands Group

| divisions =

| subsid =

| products = Swimsuits, clothing, footwear, accessories

| homepage = {{URL|https://www.quiksilver.com/|quiksilver.com}}

| footnotes =

| intl =

}}

Quiksilver is a brand of surf-inspired apparel and accessories that was founded in 1969 in Torquay, Victoria, but is now based in Huntington Beach, California. It is one of the world's largest brands of surfwear and boardsport-related equipment.{{cite web |url=http://www.companiesandmarkets.com/MarketInsight/Leisure/Global-Boardsports-Market/NI5631 |title=Global Boardsports Market |publisher=Companiesandmarkets.com |access-date=2016-02-21 |url-status=dead |archive-url=https://web.archive.org/web/20160304185510/http://www.companiesandmarkets.com/MarketInsight/Leisure/Global-Boardsports-Market/NI5631 |archive-date=4 March 2016 }} The parent company changed its name in March 2017 from Quiksilver, Inc. to Boardriders, Inc., and is the owner of the brands Quiksilver, Roxy and DC Shoes.[https://www.businesswire.com/news/home/20170308005984/en/Quiksilver-Renamed-Boardriders Quiksilver, Inc. renamed Boardriders, Inc.] In 2018, Boardriders acquired Billabong International Limited, gaining the Billabong, Element, Von Zipper, RVCA and XCEL brands. Authentic Brands Group bought Boardriders and its associated brands and intellectual property in 2023.[https://wwd.com/business-news/financial/authentic-liberated-partner-quiksilver-billabong-roxy-rvca-1235841112/ Authentic Taps Liberated for Quiksilver, Billabong, RVCA and More] Women's Wear Daily, EVAN CLARK, SEPTEMBER 27, 2023

Quiksilver manufactures and sells a wide range of products that include sportswear (swimsuits), clothing (T-shirts, polo shirts, flannels, jackets, hoodies, pants, shorts), footwear (sneakers, sandals), and accessories (hats, backpacks, and wallets). The company also produces a line of apparel for young women, under the Roxy brand. Another line of apparel for women is sold under the brand Quiksilver Women.

Recent corporate history

Quiksilver purchased Skis Rossignol for $560 million in 2005, but sold Rossignol on 12 November 2008 for $37.5 million (30 million euros) in cash and a $12.5 million note (10 million euro).{{cite news |url=http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20081113&id=9376970 |title=Quiksilver closes on sale of Rossignol ski unit |access-date=2008-11-13 |agency=Associated Press |date=13 November 2008 |work=MSN Money |url-status=dead |archive-url=https://web.archive.org/web/20070308085958/http://news.moneycentral.msn.com/provider/providerarticle.aspx?Feed=AP |archive-date=8 March 2007 }} Quiksilver owned golf-equipment maker Cleveland Golf until 31 October 2007, when it sold the company to a Japanese sporting-goods company.{{cite web |url=http://biz.yahoo.com/ap/071031/quiksilver_cleveland_golf_sale.html?.v=1 |title=Quiksilver Sells Cleveland Golf Unit|access-date=2007-11-30 |date=31 October 2007 }}

In 2009, Moody's included Quiksilver on its Bottom Rung list of companies most likely to default on its debt.{{cite news | last = McCracken | first = Jeffrey | title = Moody's Aims to Be Ahead on Defaults | work = The Wall Street Journal | page = C1 | date = 10 March 2009 }}

As of 2013, Quiksilver operated 834{{cite journal|last=Hamanaka|first=Kari|title=Quiksilver Comeback: New Stores Planned|journal=Orange County Business Journal|date=13 June 2011|volume=34|issue=24|page=65}} Of these 834 stores, 540 are owned by the company and the rest operate under licensing agreements. stand-alone stores in major cities across Australia, New Zealand, and the Pacific, Europe, North and South America, Asia, and Africa]. At that time, the two types of Quiksilver-operated stores were known as either "Boardriders Club" or "Factory" stores. Their products were also sold in many other outlets across the world, such as PacSun, the Fells Point Surf Company, and the Ron Jon Surf Shop. With PacSun's decline in retail prominence, Quiksilver and other brands suffered diminished sales. In addition, the company operated a number of separate Roxy and Quiksilver Youth stores.

As of 2013, the company suffered a financial slump for six years and initiated a turnaround plan in an attempt to resolve this.{{cite web|last=Pfeifer |first=Stuart |url=https://www.latimes.com/business/la-fi-stock-spotlight-quiksilver-20130617-story.html |title=Quiksilver is riding a wave of red ink |work=Los Angeles Times |date=2013-06-17 |access-date=2016-02-21}} In September 2015, the company filed for Chapter 11 bankruptcy.{{cite web |title=Quicksilver Chapter 11 Petition |url=https://www.pacermonitor.com/view/4ROQ35I/Quiksilver_Inc__debke-15-11880__0001.0.pdf |website=PacerMonitor |access-date=9 May 2016}}{{cite news |url=https://www.bbc.co.uk/news/business-34194480 |title=Quiksilver files for Chapter 11 bankruptcy in the US |work=BBC News |date=9 September 2015 |access-date=2016-02-21}}

Co-founder of Quiksilver Bob McKnight stepped down as CEO on 11 January 2013. He then acted as executive chairman, until retiring in October 2014.{{cite web |url=http://business.transworld.net/news/quiksilver-executive-chairman-bob-mcknight-to-retire/#JAECP58yCEQ6M7dm.97 |title=Quiksilver Executive Chairman Bob McKnight To Retire; Pierre Agnes Appointed President | Transworld Business |publisher=Business.transworld.net |access-date=2016-02-21 |archive-url=https://web.archive.org/web/20160223210244/http://business.transworld.net/news/quiksilver-executive-chairman-bob-mcknight-to-retire/#JAECP58yCEQ6M7dm.97 |archive-date=23 February 2016 |url-status=dead }} Andy Mooney, who was formerly chairman of Disney Consumer Products, was CEO from 2013 to 2015.{{cite news|last=Connelly|first=Laylan|title=Quiksilver co-founder and longtime CEO steps down|url=http://www.ocregister.com/articles/mcknight-382426-quiksilver-company.html|access-date=3 January 2013|newspaper=The Orange County Register|date=3 January 2013}}

Mooney stepped down as the CEO and was replaced in March 2015 by longtime employee Pierre Agnes to restructure the brand.{{cite news|last=Beilfuss|first=Lisa|title=Quiksilver Ousts CEO, Installs 27-Year Company Veteran as Chief Executive |url=https://www.wsj.com/articles/quiksilver-ousts-ceo-installs-27-year-company-veteran-as-chief-executive-1427462961 |access-date=27 March 2015|newspaper=The Wall Street Journal|date=27 March 2015}} In 2015, Agnes was promoted from president to CEO.

Quiksilver emerged from bankruptcy in early 2016, and the company once again became privately held, with Oaktree Capital Management as the majority shareholder.{{Cite web |url=http://www.ocregister.com/articles/company-703761-quiksilver-tanner.html |title=Quiksilver, free from bankruptcy, talks booze and boardshorts |last=Connelly |first=Laylan |work=The Orange County Register |date=11 February 2016 |language=en-US |access-date=2016-05-20}} By the end of 2016, their retail presence had significantly diminished after restructuring by Oaktree.

The company's name was changed in March 2017 to Boardriders, Inc., and it is the owner of the Quiksilver, Roxy, and DC Shoes brands. Boardriders purchased Billabong International Limited in 2018.{{cite news|last1=Masunaga|first1=Samantha|title=Huntington Beach-based Boardriders acquires Billabong|url=https://www.latimes.com/business/la-fi-boardriders-billabong-20180104-story.html|access-date=8 January 2018|newspaper=Los Angeles Times|date=4 January 2018}}

On 30 January 2018, the global CEO of Boardriders, Pierre Agnes, was declared missing after his powerboat washed ashore without him near Biarritz, France, after he radioed in to delay his return in thick fog conditions.{{cite news |url=https://www.independent.co.uk/news/world/europe/pierre-agnes-quicksilver-ceo-missing-sea-boat-france-beach-wash-up-search-biarritz-a8186781.html|archive-url=https://archive.today/20220704130818/https://www.independent.co.uk/news/world/europe/pierre-agnes-quicksilver-ceo-missing-sea-boat-france-beach-wash-up-search-biarritz-a8186781.html|url-status=dead|archive-date=2022-07-04|title=Pierre Agnes: Mystery surrounds Quiksilver CEO's disappearance at sea after empty boat washes up on French beach |first1=Tom |last1=Embury-Denis |access-date=2022-07-04 |work=The Independent}} A search operation by air and sea was launched the same day.{{Cite news|url=https://www.ocregister.com/2018/01/30/boardrider-ceo-pierre-agnes-lost-at-sea-rescuers-scour-ocean-off-france-after-boat-washes-ashore/|title=Boardriders and Quiksilver CEO Pierre Agnes lost at sea, rescuers scour ocean off France after boat washes ashore|date=2018-01-30|work=Orange County Register|access-date=2018-06-03|language=en-US}}{{cite news|last1=Hanbury|first1=Mary|title=Quiksilver's CEO has mysteriously disappeared off the coast of France|url=http://www.businessinsider.com/quiksilver-ceo-disappears-in-france-2018-1|access-date=30 January 2018|work=Business Insider|date=30 January 2018}} The search was called off a few days later, as he was declared lost at sea and presumed dead. Dave Tanner, the company's former chief turnaround officer, became CEO on 6 February 2018.{{cite news |last1=Connelly |first1=Laylan |title=Quiksilver CEO Pierre Agnes remembered at Huntington Beach paddle-out |url=https://www.ocregister.com/2018/03/16/quiksilver-ceo-pierre-agnes-remembered-at-huntington-beach-paddle-out/ |access-date=11 March 2019 |work=OC Register |date=16 March 2018}}

Boardriders, Inc. owns Quiksilver, Roxy, DC Shoes, Billabong, Element, Von Zipper, RVCA, and XCEL.

In April 2023, Authentic Brands Group made a binding offer to acquire Boardriders, Inc. for US$1.25 billion.{{Cite web |last=LaFrenz |first=Carrie |date=2023-04-03 |title=Big names back US group buying Billabong and Quiksilver parent |url=https://www.afr.com/companies/retail/billabong-quiksilver-parent-to-be-sold-to-group-with-star-backers-20230403-p5cxl4 |access-date=2023-04-04 |website=Australian Financial Review |language=en}}

On February 2, 2025, Liberated Brands, owner of Quiksilver and Roxy retail stores in the US, filed for Chapter 11 bankruptcy protection, listing assets and liabilities between $100 million and $500 million. The company announced the closure of all remaining Quiksilver and Roxy locations in the US, with liquidation sales beginning a week before the bankruptcy.{{Cite web|url=https://shop-eat-surf-outdoor.com/news/liberated-brands-files-for-chapter-11-bankruptcy/603586/|title=Liberated Brands Files for Chapter 11 Bankruptcy|first=Tiffany|last=Montgomery|date=February 3, 2025|access-date=February 3, 2025|website=Shop Eat Surf Outdoor|language=en}}

Roxy

In 1990, Quiksilver launched its sister brand for young women, Roxy. The brand was shuttered after the 1991 surf industry crash, but revived by Bob McKnight and Danny Kwock in 1992, signing Lisa Andersen in 1993.{{Cite web|title=About Us|url=https://www.roxy.com/customer-service-corporate-information-about-us.html|access-date=2020-12-15|website=roxy.com|language=en}} It was differentiated from the main Quiksilver line "for fear it would damage the men's brand", according to Randy Hild, the company's senior vice president of marketing. Roxy was chosen because it sounded like a punk band or club (likely Roxy Music and The Roxy respectively), and is also the name of the daughters of both CEO Bob McKnight and founder Alan Green.{{cite web|url=http://www.allbusiness.com/north-america/united-states-california-metro-areas/1122595-1.html|title=Image makers|last=Bellantonio|first=Jennifer|date=16 September 2002 |work=Orange County Business Journal|access-date=6 December 2009}}{{cite journal|last=Calhoun|first=Carina|title=Q&A|journal=Orange County Business Journal|date=12 July 2010|volume=33|issue=28|page=7}} About 30% of Quiksilver's sales come from the Roxy line.{{cite journal|last=Gomez|first=Alicia|title=Beyond Roxy: Quiksilver Does Junior Line|journal=Orange County Business Journal|date=16 August 2010|volume=33|issue=33|pages=3, 31}}

Since inception, Roxy has grown to be the largest action sport fashion apparel company for young women. In addition to apparel, it now also produces accessories, homewares, hard goods (snow and surf), wetsuits, footwear, and books. It has sub-brands for its children's ranges, Roxy Girl and Teenie Wahine.

In the spring of 2013, the "DVF loves Roxy" collection was released as a one-time limited-edition collaboration line of swim and beach wear as well as accessories.{{cite web|url=http://business.transworld.net/124652/news/roxy-celebrates-launch-of-dvf-loves-roxy-collection/|author=Bradstreet, Kailee|title=Roxy Celebrates Launch Of 'DVF Loves Roxy' Collection|date=11 March 2013|access-date=21 March 2013|archive-url=https://web.archive.org/web/20130314010353/http://business.transworld.net/124652/news/roxy-celebrates-launch-of-dvf-loves-roxy-collection/|archive-date=14 March 2013|url-status=dead}}

Brand image

The Quiksilver brand's logo, designed in 1973 by founders Alan Green and John Law,{{cite web |url=http://www.quiksilver.com.au/about-us/ |title=Quiksilver - About Us |access-date=2011-12-29 |year=2011 |publisher=Quiksilver}} was inspired by Japanese painter Hokusai's woodcut, The Great Wave off Kanagawa.{{cite web |url=http://www.lexpress.fr/informations/surf-la-planche-a-billets_638908.html |title=Surf La planche à billet |access-date=2009-09-06 |author=(In French) L'Express |date=13 July 2000 }} It depicts a large wave with a mountain on a red background. Roxy's heart-shaped logo was created by duplicating and reflecting the Quiksilver logo and rotating both copies at a 45-degree angle.

Controversy

In 2023, a news article from Beach Grit [https://beachgrit.com/2024/02/fake-surf-brand-quiksilver-accused-of-ruthlessly-stealing-designs-from-lil-core-boardshort-co/] reported that Quiksilver directly copied a design from a small company, Ola Canvas, and their Blackball boardshorts. Quiksilver posted the design on their Instagram account on February 14, 2023 and Ola Canvas posted a response five days later.