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Authentic Brands Group, the fashion giant behind Reebok, is taking over surf brand group Boardriders. The parent company of brands Quiksilver, Billabong and Roxy aims to grow substantially under the new owner.
Boardriders becomes marketplace
Boardriders, which has united Quiksilver, Billabong and Roxy since 2018, has received a binding takeover offer from Authentic Brands Group. That group already has a very broad portfolio of fashion brands, from Hervé Léger to Forever 21, but now wants to bet on action sports as well. Together, the companies generate 25 billion euros in sales.
Australian chain Surf Dive ’n Ski is also part of the acquisition and is an interesting addition for Authentic: adding to its more than eighty physical shops, the chain also has a strong e-commerce platform. Authentic founder Jamie Salter now wants to turn Boardriders into a “thriving online marketplace” as well.
Accelerating globally
“With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide”, Salter told The Industry. Boardriders CEO Arne Arens hopes to “expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”
Admittedly, the deal is not yet completed: negotiations with the unions at Boardriders have yet to take place and the agreement has not yet been finally signed. Authentic hopes to complete the acquisition in full in the third quarter of 2023.
