Surfdome.com in Advanced Discussions with Potential New Partners
Surfersvillage Global Surf News, 19 December, 2013 - London - Action sports and lifestyle-fashion retailer, Surfdome.com has confirmed today that it’s at an advanced stage in securing new business partners, which will be announced in the New Year.
Surfdome.com, focused predominantly on surf, snow and outdoor activities also creates editorial content that features the lifestyle and fashion that surround these sports. The retailer has grown rapidly since its launch in the UK in 2006, consistently generating over 70 percent annual growth.
In 2011 Surfdome.com received investment from global boardsports brand Quiksilver and the business has continued to expand since. Surfdome.com expects to deliver another year of record sales and profits in 2013 with a considerable number of orders now coming through smartphones, tablets and international markets.
Following a recent announcement by Quiksilver, Inc. detailing their plans to divest its ownership stake in Surfdome in order to focus its efforts on the Quiksilver, Roxy and DC brands, Andy Mooney, President and Chief Executive Officer of Quiksilver, Inc., said, “Surfdome.com is a strong, fast growing business that highlights how quickly consumers’ purchasing habits are changing as they embrace online retail.”
“We’ve thoroughly enjoyed working with Justin Stone and his management team in London but acknowledge that our efforts now need to be in strengthening our core brands, Quiksilver, Roxy and DC. We expect to continue to work closely with Justin and Surfdome and are excited about their future in the growing online multi-brand retail channel.”
Justin Stone, Founder and Chief Executive Officer of Surfdome, commented, “Surfdome and Quiksilver developed a strong relationship over the last two years and worked well together on numerous initiatives to drive growth whilst simultaneously developing a solid infrastructure platform for Surfdome.”
Justin Stone went on to comment, “Given our historical performance and the future growth opportunities Surfdome.com presents in the action sports, outdoor and lifestyle market, there have been significant levels of interest in acquiring Quiksilver’s stake in Surfdome.com. We are now a good way through the process of vetting new equity partners and expect to make an announcement in early 2014.”
The international investment bank, Altium, has been retained to manage the process on behalf of Surfdome and Quiksilver.