SurfStich major online action sports retailer in southern hemisphere
Surfersvillage Global Surf News, 5 December, 2014 - Online sportswear retailer SurfStich Group is preparing to float on the Australian Securities Exchange (ASX) and is scheduled to commence trading on 18 December 2014. In its initial public offering (IPO) prospectus SurfStich describes itself as “one of the leading pure play online Action Sports retailers globally”.
Furthermore it claims to be the only major online action sports retailer in Australia and New Zealand and is developing a growing presence in the US and European markets. The company’s brand and product offering includes surf, ski, skate, snow, footwear, motocross and street based apparel, hard goods and accessories.
The group provides 30,000 products and over 700 brands to customers across the world. “With established warehousing and technology infrastructure in Australia, France and the USA, SurfStitch has the excess capacity needed to handle increased volume with minimal further investment,” said chairman Howard McDonald in a letter to shareholders.
SurfStich is offering 83.2 million shares to the market at $1.00 per share. If fully subscribed the company’s market capitalisation will be approximately $214m.