The La Jolla Group \ended its 10-year licensing agreement with …Lost to focus on its O'Neill and Rusty surf brands as well as its streetwear brands.
In a statement, La Jolla Group President Toby Bost said, “The decision to move …Lost out of La Jolla Group is consistent with the diversification strategy that we have been implementing over the last year. To this end, we are continuing to focus our efforts on building the iconic O'Neill and Rusty surf brands, while cultivating other areas of strong growth in action sports and youth lifestyle.
After looking at the current market and our portfolio, we decided to strengthen our commitment to our existing surf brands and ramp up efforts with other action sports brands, including those rooted in the moto and streetwear markets, such as Metal Mulisha and True Love & False Idols. Upcoming additions in 2011 will further illustrate our business plan and mission as the world's premier apparel licensing company.”
