Quiksilver Sells Raisins Swim Brands

Raisins Swim BrandsQuiksilver Inc. has reached an agreement today to sell its Raisins portfolio of swim brands to Breaking Waves International, a part of AOM Holdings, LLC, according to a press release issued by the company. The brands, which Quiksilver has operated since 1994, include Raisins, Raisins Girls, Leilani, Island Soul an Island Escape. Brian Ivanhoe, current Vice President of Raisins for Quiksilver, will join BWI as of May 1 as Executive Vice President of Raisins Swimwear. The brands will continue to be designed in California and distributed to specialty surf and department stores throughout the US and Canada, according to a statement issued by BWI.

“Craig Stevenson, President of Quiksilver Americas, stated, “As we review our operating priorities we are keenly focused on our core businesses of Quiksilver, Roxy, DC and increasingly, Mervin. In that context, and after evaluating opportunities for our other women’s swim brands, we felt the best course of action for our shareholders, our customers an dour employees was to sell these women’s swim brands to AOM Holdings, who came forward with an attractive offer. AOM has extensive experience in the swim category and we are pleased that they have expressed their intent to continue to operate these brands within their existing channels of distribution.”

Mr. Stevenson further stated, “We intend to work toward a smooth transition of the business. Our team will continue to ship our Spring and Summer 2010 order file – including reorders – throughout the current swim season. The first line releases from AOM will begin with the Spring 2011 season.”