QUIKSILVER SELLS GOLF UNIT: Quiksilver Inc. has sold its Cleveland Golf Co. Inc. for $132.5 million to Japan-based SRI Sports Ltd. The transaction is expected to close by Jan. 31. A piece of Cleveland Golf was originally part of Quiksilver's acquisition of the Rossignol Group in July 2005. Quiksilver acquired the remainder of Cleveland in September of this year. Quiksilver said the sale is the result of the company's intention to look at alternatives that would reduce its exposure to the hard goods manufacturing business. The company added it will also evaluate ways to reduce its exposure in the noncore winter equipment businesses acquired in its Rossignol deal.
PACSUN HIRES FINANCO: Pacific Sunwear of California Inc. said on Wednesday that it has hired investment banking firm Financo Inc. as its adviser regarding possible options in connection with the retailer's 154-unit D.e.m.o. chain. The company said last week that it would explore strategic alternatives for the operation. PacSun cautioned on Wednesday that there can be no assurance the process will result in any specific transaction.
BRUBACH DEPARTS: Holly Brubach has stepped down as creative director of the Canadian jewelry firm Birks & Mayors. Brubach, a former style editor of The New York Times, was tapped in 2003 to invigorate the brand and develop a private label line for the international market. She headed a team of designers from around the world. "I learned a lot about the jewelry business," said Brubach, who is working on two books.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)