Billabong considers selling some of its brands
At the group's AGM, Billabong President Ian Pollard emphasised the group's intention to concentrate on Billabong, Element and RVCA brands.
"At the moment we are carefully considering some of our smaller brands, including Tigerlily, VonZipper and Xcel, with a view to possible sales which could cover part of our debt and streamline our brand portfolio."
VonZipper is a US specialist in board sports sunglasses, and became part of the Australian group in 2001, while surfing accessories brand Xcel was bought in 2007.
In the same year, the group acquired for the first time a brand specialised in women's swimwear, purchasing Tigerlily from its founder Jodhi Meares, for an amount estimated between AUD3 million and AUD5 million.
Billabong’s portfolio also includes footwear brands Kustom and Honolua, as well as surfing accessories brand Palmers Surf. In the last few seasons, the brands that are active on the European market have been distributed through dealers.
In its last fiscal year, Billabong reported a revenue of AUD1.1 billion (€740 million), with an EBITDA of AUD57.5 million. For the 2016-17 fiscal year, which kicked off with a weak first four months, the group expects an EBITDA ranging between AUD60 million and AUD65 million.
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