This venture, which replaces a former license and distributorship agreement, builds on the Company's strategy to own and operate its business in key territories. The Company believes that the Russian market is increasingly vibrant and that its brands have a strong, resonant message and considerable untapped potential with Russian consumers. The Company will hold a majority stake in the joint venture, which it expects to further its reputation as one of the leading outdoor lifestyle brands in the world. Sprandi is a leading sports and outdoor lifestyle company in Russia and Eastern Europe specializing in footwear, apparel and accessories
Bernard Mariette, President of Quiksilver, Inc., commented, "We are very excited about this initiative, which will expand the growth opportunity for our core business. Russia's young people are increasingly linked to the global youth culture, and the market has excellent potential. The boardriding lifestyle and its ties to music and other aspects of popular western culture have begun to see a massive expansion in Russia. We are confident that, with a strong track record and a clear understanding of the local market, that Sprandi International has proven itself to be the right partner. As we go forward, we believe that a strong business in Russia will serve as a model and, potentially, as an operating platform to grow our business in a variety of other attractive markets throughout Eastern Europe."
Dinesh Sahani, Founder and CEO of Sprandi International Ltd. Moscow, stated, "We will leverage our Company's wide experience in successfully planning and building a sport-footwear and apparel brand in Russia to create a strong presence for the Quiksilver and Roxy brands. Our capability for execution in design, manufacturing, and marketing, as well as our specific expertise in the Russian market should ensure our place as a market leader and our financial success in the future. The Russian consumer market is very strong, and we believe that both Quiksilver and Roxy have enormous potential for our young consumers."
Quiksilver, Inc. (NYSE:ZQK) is the world's leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, wintersports and golf equipment, footwear, accessories and related products. The Company's apparel and footwear brands represent a casual lifestyle for young-minded people that connect with its boardriding culture and heritage, while its wintersports and golf brands symbolize a long standing commitment to technical expertise and competitive success on the mountains and on the links.
The reputation of Quiksilver's brands is based on different outdoor sports. The Company's Quiksilver, Roxy, DC Shoes and Hawk brands are synonymous with the heritage and culture of surfing, skateboarding and snowboarding, and its beach and water oriented swimwear brands include Raisins, Radio Fiji and Leilani. The Rossignol, Dynastar, Lange, Look and Kerma brands are leaders in the alpine ski market, and the Company makes snowboarding equipment under its Rossignol, Dynastar, DC Shoes, Roxy, Lib Technologies, Gnu and Bent Metal labels. The Company's golf business includes Cleveland Golf, as well as Never Compromise putters and Fidra apparel. Gotcha is the Company's surf-based European brand addressing street fashion.
The Company's products are sold in over 90 countries in a wide range of distribution, including surf shops, ski shops, skateboard shops, snowboard shops, its proprietary Boardriders Club shops, other specialty stores and select department stores. Quiksilver's corporate and Americas' headquarters are in Huntington Beach, California, while its European headquarters are in St. Jean de Luz and Voiron, France, and its Asia/Pacific headquarters are in Torquay, Australia.
NOTE: For further information about Quiksilver, Inc., you are invited to take a look at our world at www.quiksilver.com, www.roxy.com, www.dcshoecousa.com, www.quiksilveredition.com, www.hawkclothing.com, www.rossignol.com, www.dynastar.com, www.clevelandgolf.com, and www.fidragolf.com.
Sprandi is a leading sports footwear & apparel brand in Russia operating since 1995. The company designs, produces, distributes and retails Sport and Outdoor footwear & clothing under the Sprandi and Earth Gear brands respectively.
Sprandi's products are distributed through 90 Sprandi mono-branded Shops in Russia, and various other channels of distribution. Categories such as Running, Soccer, Tennis, Fitness, Motion, Lifestyle & Basics are covered under the Sprandi brand, and under Earth Gear the core categories are Extreme Conditions, Adventure, Water & Urban. www.sprandi.com