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Dive Brief:
Dive Insight:
Authentic acquired Boardriders in September 2023. The previous round of layoffs were also part of restructuring efforts, and employees affected also included C-suite executives. Boardriders also cut 170 jobs in 2022 to reorganize.
Because of the Authentic deal, “the Company is initiating necessary but difficult measures,” Jennifer Marques, chief human resources officer, wrote in Boardriders’ letter to the California Employment Development Department.
The latest cuts bring the total number of people laid off in California since the Authentic acquisition to 698.
"Authentic’s bench strength is in acquiring great brands with broken business models, converting them into a licensing model, and returning them to profitability," David Brooks, executive vice president of action & outdoor sports and lifestyle at Authentic, said in an email to sister publication Fashion Dive. "Brands must continue to evolve their business models to thrive and remain competitive. Embracing change is essential to staying relevant, and part of that change includes our licensing partners taking over key functions and, unfortunately, eliminating certain positions. These decisions are not taken lightly, but we are pleased that our partners have been able to take on upwards of 5,000 employees globally.”
Boardriders’ brands include Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Honolua and Boardriders’ namesake brand. Since Authentic acquired the portfolio, it has inked several licensing deals for the brands, including with BBC International and Centric Brands.
Authentic, a company known to buy struggling businesses, owns a portfolio of more than 50 names in the lifestyle and entertainment space, including Eddie Bauer, Frye, Reebok and Nautica.
via https://www.aiupnow.com
Laurel Deppen, Khareem Sudlow
