The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.
Once flying high, Australia’s iconic ‘big three’ surf brands – Rip Curl, Quiksilver and Billabong – now face shrinking sales and mounting debts. What went wrong?
GOLD COAST, Australia — Billabong International Ltd., the unprofitable Australian surfwear company, accepted a refinancing proposal from a group including Oaktree Capital Management LP and Centerbridge Partners LP, saying it offered better terms than a rival plan to repay debt.
BURLEIGH HEADS, Australia — Billabong International Ltd., the Australian surfwear company that’s already fielded five takeover and refinancing proposals since February 2012, said Coastal Capital International Ltd. is seeking a board shakeup.
SYDNEY, Australia — Billabong International Ltd., the Australian surfwear company whose shares fell by more than half over the past year, posted a loss more than three times its market value and said its core brand was worthless.