CANADA: Canadian retailer RVCA taken over by Billabong

Billabong International Ltd has acquired Canadian apparel brand RVCA for an undisclosed sum.

Billabong anticipates that RVCA's earnings will equate to around 2% of its revenue and will be earnings per share neutral in the 2010-11 financial year.

CEO Derek O'Neil says the RVCA brand has developed a strong presence in the United States where the bulk of its revenue is generated.

While RVCA's expansion into European and Australian markets is in its infancy, Billabong says they will grow the brand while leveraging the distribution and supply chain infrastructure and support of the Billabong group.

Billabong has also responded to earlier media reports that US sporting goods chain Zumiez plan to outbid them on their planned West 49 acquisition.

Billabong says it will monitor the situation, as Zumiez conducts due diligence to determine if their proposal will be financially superior to the Billabong offer.

Billabong International recorded a profit of $152.84 million for the year ending 30 June, 2009.


Send your News/Releases for publication to [email protected]
Added: July 13, 2010 Source: Agencies
Start script - 1550978924.9048 Start news id check - 1550978924.9048 After news id check - 1550978924.9051 After cookie_code - 1550978926.5612 Before news detail - 1550978926.5612 After news detail - 1550978926.5623 Start cat select - 1550978926.5623 After cat select - 1550978926.5625 before preg replace - 1550978926.5626 After preg replace - 1550978926.5626 Before tag engine - 1550978926.5626 After tag engine - 1550978926.5675 Before mptt engine - 1550978926.5675 After mptt engine - 1550978926.5675 Before related engine - 1550978926.5675 After related engine - 1550978926.5713 Before update hits - 1550978926.5714 After update hits - 1550978926.5716 After update news_hits - 1550978926.5748 After mem_only_views - 1550978926.5748 -------------------------------------------------- Total Exec time:- 1.6700999736786
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2019. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 24-02-2019