Industry News 10/29/2013

B$Z: Rusty and La Jolla Group Agree to Part Ways

Rusty and La Jolla Group Agree to Part Ways
Press Release from La Jolla Group

La Jolla Group (http://www.lajollagroup.com) ("LJG") and Rusty have mutually agreed to return the apparel license for Rusty North America to the brand owners, Rusty International, at the end of 2013. This concludes a six-year licensing partnership with Rusty and LJG.

As of Jan 1, 2014, the new Rusty licensee, Happy Shovel L.L.C. will assume responsibility for all aspects of the management of Rusty's apparel business in North America.

"A further announcement will be made next week" said Geoff Backshall, Rusty International CEO.
"That said Spring 14 production has been purchased and the sales reps are on the road with Summer guaranteeing a seamless transition for retailers and consumers who have known the popular R-dot logo for decades. We thank the La Jolla Group for the last 6 years and we look forward to the next phase of Rusty's development in the region."

Rusty operations at the La Jolla Group will continue through the end of the year facilitating all orders, customer service and marketing responsibilities for the period.

La Jolla Group was started 20 years ago with the acquisition of the O'Neill Clothing license, and has since included a variety of core brands in action sports in its portfolio. With a renewed focus on its operational backbone and core competencies, recently appointed CEO Daniel Neukomm and his leadership team are well positioned to strengthen its current brands and businesses in the coming years.

"Both Rusty and LJG have successful operations to run, so we want to make sure that our staff and sales partners know that it's business as usual," said Neukomm. "The timing is perfect for this transition."

For more information on La Jolla Group, visit www.lajollagroup.com .
For more information on Rusty, visit
www.rusty.com