Quiksilver opens second Boardriders store
As the future of the US arm of surfwear group, Quiksilver, hangs in the balance, Quiksilver Asia Pacific has confirmed it remains unaffected, continuing with expansion by opening the second Australian Boardriders concept store.
First launched in 2006 in Europe under the guidance of CEO, Pierre Agnes, the Boardriders store format has been a dubbed a lifestyle store concept by the brand, with the average footprint around 1000sqm. The stores showcase Quiksilver’s core retail brands, including Quiksilver, Roxy, and DC Shoes, and also house a cafe, licensed bar, and barbershop, and host yoga classes and skate clinics.
The first Australian Boardriders opened its doors in February this year at The Strand, in Coolangatta on the Gold Coast. The latest has opened in Torquay, Victoria – the birthplace of the Quiksilver brand. There are currently 14 Boardriders stores globally, including two in Australia.
The opening of the new 1000sqm store, located in Torquay’s Surf City Plaza, follows the announcement of Quiksilver Asia Pacific’s US counterpart filing for bankruptcy in an effort to allow the company to restructure its operations.
It is understood the restructure will involve ownership and control of the business, which has been listed on the New York Stock Exchange since 2002, to pass to senior lenders, including Oaktree Capital Management. A private equity investment firm in the US, Oaktree Capital Management, was a key player in the $586 million 2013 rescue of Billabong International and currently retains a substantial shareholding. Quiksilver was founded in Australia in 1969 and has 45 standalone stores in Australia. At its peak the company was reportedly worth around $A3.3 billion. Last year, the surfwear group reported a 13 per cent drop in sales and posted a loss of $US309 million.
“We called it ‘Boardriders’ simply for that reason, to bring ‘boardriders’ together and elevate our three brands under the one roof,” Todd Liddy, retail director of South Pacific, told Inside Retail Weekly.
Quiksilver has also developed a smaller Boardriders store format. At 500sqm, it’s around half the size of a typical Boardriders store and includes some elements of the larger flagship concept, such as a coffee bar and DJ area.
“There are some more watered down versions of it,” Liddy said, “but we think in Australia this concept is the one that resonates with our consumer. We feel in Australia we need to have less of these stores, but do the stores larger and proper.”
Liddy said more Boardriders stores are currently in the planning phase, however, he could not comment on locations.
“We’ll continue to look for the right opportunities for Boardriders that fit our site selection criteria, which is iconic locations, either beachside, snowside, or in skate or sport areas. It also needs to make sense and be complementary to our current distribution channels as well,” he said. Liddy also commented on plans for Quiksilver’s standalone stores, stating there were no “aggressive rollout plans” and further store expansion would be organic.
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