86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
Published
Sep 12, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Surfstitch offloads digital mag Stab to former owners

Published
Sep 12, 2017

Embattled online Australian retailer Surfstitch has sold back Stab magazine to the digital publication's previous owners for a "nominal" cash sum, under the guidance of administrators who are trying to resurface the submerged surf e-tailer.


Stab magazine cover - Stab


Sam McIntosh and Tom Bird, who founded the magazine for high-performance surfing, closed the deal with administrators John Park, Quentin Olde and Joseph Hansell of FTI Consulting, according to local media.

“SurfStitch Group and Rollingyouth Media (Stab) will maintain a close commercial relationship with both parties entering into a three-year agreement for the supply of marketing and content development and advertising services to the SurfStitch Group,” FTI Consulting said.

Details of the deal were not disclosed but the co-founders will pay a “nominal” cash consideration for the Stab business. In May 2015, the SurfStitch bought Stab Magazine and a surf weather site, Magicseaweed, for a combined AU$13.8 million cash and 4.8 million shares.

It's been a tumultuous two years for Surfstitch. The Gold Coast head quartered group went into into administration earlier in the year, citing significant challenges including two class actions, protracted litigation and an investigation by the corporate regulator ASIC. 

In April, SurfStitch sold action and extreme sport video business Garage Entertainment to the Madman Media Group for a loss, which in 2015 it paid AU$15 million for.

In December last year, SurfStitch sold its surfboard subsidiary Surf Hardware International at a loss to investment company Gowing Bros Ltd for $17 million, which it bought a year earlier for $23.7 million.

In March 2016, Surfstitch’s management was restructured after the surprise departure of CEO and co-founder Justin Cameron. The company then said it understood Cameron was pursuing a potential acquisition of the business in conjunction with private equity. 
 

Copyright © 2024 FashionNetwork.com All rights reserved.