Quiksilver Announces Additional Licensing Agreements
HUNTINGTON BEACH, Calif.
Source: (BUSINESS WIRE)
Publish Date: July 10, 2014
Quiksilver, Inc. (NYSE: ZQK) today announced that it has entered into licensing agreements for several product categories, including Roxy young girls and children’s apparel, watches and socks/legwear, as well as other product categories including luggage, beach towels and surfboards.
“Our product licensing team has done an excellent job of partnering with industry leaders that have the size, scale and expertise to help us grow these businesses,” said Andy Mooney, chief executive officer of Quiksilver, Inc. “These agreements cover large geographic markets and, importantly, dovetail with our profit improvement plan by significantly reducing product styles for our design team and supply chain. We expect our license agreements to lower operating costs and inventory levels.”
The company has entered into an exclusive international licensing agreement with Planet Sox (PS Brands, LLC), a leading global designer, maker and distributor of socks and legwear. Planet Sox will design, manufacture and market socks in all size ranges for the Quiksilver, Roxy and DC brands in North America beginning with the Holiday 2014 season, and international sales following in Spring 2015.