Quiksilver Digs in Down Under with Aquisition of Retail Chain, Surfection
Quiksilver Digs in Down Under with Acquisition of Retail Chain, Surfection
Acquisition Bolsters Boardriding Industry Leader's Global Marketshare of More than 240 Boardriders Club Stores Worldwide
HUNTINGTON BEACH, Calif. April 5, 2005 - Quiksilver (NYSE:ZQK - News; www.quiksilver.com), the boardriding industry leader, today announced the acquisition of one of Australia's top retail groups, Surfection, which will join Quiksilver's more than 240 Boardriders Club stores throughout the world. The acquisition is integral to Quiksilver's current retail growth and its long term Asia Pacific strategy in opening Boardriders Club stores in Japan, China and South East Asia that complement its substantial wholesale business. Chris Athas, owner of the Surfection Group, will take on an executive role at Quiksilver as Retail Director for Asia Pacific, where he will work directly with President of Quiksilver Asia Pacific Clive Fitts.
Surfection has been operating for nearly 20 years and owns seven Surfection surf shops and five Quiksilver/Roxy concept stores, or Boardriders Clubs, throughout New South Wales, Australia. The deal comprises the purchase of five key Surfection stores and the five Quiksilver/Roxy concept stores, and the Surfection stores will all be gradually converted to Quiksilver Boardriders Clubs.
"Chris has been an integral part of the Boardriders Club rollout strategy in Australia," said Clive Fitts, President of Quiksilver Asia Pacific. "His retail expertise will be a key attribute in developing similar stores throughout China, Japan and South East Asia."
"The acquisition clearly identifies Quiksilver's vision for retail in the surf industry," said Chris Athas, Retail Director for Quiksilver, Asia Pacific. "Quiksilver has once again taken the initiative in what, I have no doubt, will be a very successful decision to add Surfection's considerable retail expertise and presence to their own."
"Bringing Surfection into our group fits perfectly with our global retail strategy," said Bernard Mariette, President, Quiksilver, Inc. "With this acquisition, we're adding not only a great business, but great people. I'm very excited to add Chris Athas to our management team. His entrepreneurial spirit will be very valuable as he sets his sights beyond Australia."