LOS ANGELES — Riding a wave of robust growth, Quiksilver president Bernard Mariette said the company is expected to increase sales to $3 billion in the next five to seven years.
For Quiksilver’s most recent fiscal year, ended in October of 2003, total revenue was $975 million.
The 30-year-old Huntington Beach-based company, which said in June that it’s on track to see revenue of $1.19 billion to $1.2 billion for its 2004 fiscal year, expects the Quiksilver and Roxy brands to grow into billion-dollar brands, while revenue from the recently acquired DC Shoes line, as well as from the company’s 13 other brands, is expected to grow to $1 billion over the same five to seven years. Currently, DC Shoes accounts for about 10 percent of the firm’s business for 2004.
Quiksilver, which said Tuesday that it has seen high-single-digit to low-double-digit growth in Asia this year, opened its first shop in Shanghai in May, and said it is eager to capitalize on the vast youth market in China.
“New territories clearly have a lot of potential,” said Steve Brink, chief financial officer, who added that the company is looking to expand in Japan and Southeast Asia as well as in Mexico and Brazil.
As to whether the wave of success in the surf industry might be on the verge of crashing in the near future, Brink said, “Our success doesn’t depend on surf being trendy.”
— Michelle Dalton Tyree