×
469
Fashion Jobs
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Officer Hrbp / Business HR For Garment/Textile/Apparel Industry
Permanent · Bengaluru
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Mumbai
Permanent · Bengaluru
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales - Rajahmundry
Permanent · Rajahmundry
ZYDUS WELLNESS
Zydus Wellness - Factory Manager - Sikkim Plant
Permanent · Atlanta
ANUSHÉ PIRANI
Social Media & Fashion Communications
Permanent · MUMBAI
HARSH CLEAN DHAN PVT. LTD
Area Sales Manager (Modern Trade Sales) For North East
Permanent · Guwahati
RANDSTAD INDIA PVT LTD
Area Sales Manager (Consumer Durable Industry)
Permanent · Mumbai
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
VR INDUSTRIES PVT. LTD
Area Sales Manager
Permanent · Chennai
G.R. BATHLA & SONS
Marketing Executive/Area Sales Manager
Permanent · Ludhiana
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Cutting Manager/Production Head - Garments Industry
Permanent · Bhiwandi
KALPA ELECTRIKAL PVT. LTD
Hiring For Production in Charge/ Manager (8-15 Yrs Exp)
Permanent · Bengaluru
TARGET PUBLICATIONS
Regional Sales Manager
Permanent · Mumbai
THE BANYAN HR CONSULTS
Head HR For Garments Manufacturing Company at Chengalpattu, Tamil Nadu
Permanent · Chennai
IUMENTAS LIFE SCIENCE
Veterinary Sales Manager For The State of Assam
Permanent · Guwahati
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Plastic Manufacturing Company| Umbergaon
Permanent · Navsari
Published
Oct 12, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Surfstitch sells UK Surfdome arm for token price

Published
Oct 12, 2017

Troubled Australian e-tailer Surfstitch is to sell its UK e-commerce operation Surfdome as it retreats from the international stage, according to reports.


Surfdome



The Australian company is operating in administration and the administrators from FTI Consulting said they have agreed to sell the British business to Internet Fusion for just £7 million (A$11.8 million). Part of that is being paid upfront with the rest being a deferred payment, the Australian Financial Review reported.

Internet Fusion is a sports and adventure retailer with private equity backing and it’s getting Surfdome at a knock-down price. Surfstitch is believed to have paid around A$16 million for Quiksilver’s share of Surfdome three years ago, although the price has not been confirmed and the company was also reported to have paid up to A$45 million for the brand from Quiksliver and its founder Justin Stone.

The purchase of Surfdome in 2014 was part of a buying spree by Surfstitch founders Justin Cameron and Lex Pedersen prior to its A$214 million IPO in December of that year and gave the Australian firm a sizeable presence in the UK and mainland Europe.

In the following year, the firm spent another A$120 million with the company targeting fast growth through acquisitions, including UK-based surf forecaster Magicseaweed

But the value of many of the acquisitions was later written down after a new board was installed following Cameron’s departure as he tried to put together a private equity bid that never materialised. 

The administrators said that while Surfdome was on the firm’s books with a value of A$34 million and was making profits from sales of A$82 million, it still faces major challenges.

Copyright © 2021 FashionNetwork.com All rights reserved.