HUNTINGTON BEACH, Calif. — Roxy, Quiksilver's surf-inspired junior brand that racked up $647 million in sales last year, is getting a big sister.
Next fall, Quiksilver will kick off a young contemporary line aimed at 18- to 24-year-olds who outgrew Roxy, as competitors in the action sports industry, such as Nike-owned Hurley, continue to boost the fashion quotient in their women's divisions. Roxy will skew even younger by introducing infants' clothing. In addition, Quiksilver aims to extend its roots out of board sports into a global arena with more general appeal.
"The biggest challenge is fast fashion," said Quiksilver president Bernard Mariette at Quiksilver's headquarters here.
Declining to disclose Quiksilver's investment and sales forecast for the new women's initiative, which will be sold under the name of the parent brand, Mariette is bullish that the 118 styles in the first collection — including a sheer top retailing for less than $100 that conjures a banker's shirt mixed with a peasant blouse, $89 gray-tinted skinny jeans and a $120 silk minidress — will attract women in their 30s and 40s.
"It has the potential to be as big as Roxy," he said.
Introduced in 1991, Roxy has entered new categories like fragrance and footwear and opened more than two dozen stores worldwide. Roxy already graduated to higher retail prices and more sophisticated styling with $78 jeans and $49.50 swing jackets. Quiksilver officials said Roxy's sales increased 18 percent from a year ago to make up a quarter of Quiksilver's total revenue of $2.36 billion in its fiscal year ended Oct. 31, 2006. Over the next two to four years, Roxy's sales are projected to reach $900 million, the company said.
In the fiscal third quarter ended July 31, Quiksilver said Thursday that it swung to a net loss of $7.9 million, or 6 cents a diluted share, on revenue of $612.8 million as expenses increased 15 percent because of a $13.2 million charge related to the acquisition of a minority stake in Roger Cleveland Golf Co. and other costs. In the year-ago period, the company reported net income of $5.3 million, or 4 cents a diluted share, on revenue of $525.9 million.
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)