Podium Venture Group, Inc., an apparel, media, and publishing holding company in the lifestyle sports industry, retained a first option to acquire a majority interest in Corduroy Surf Company, a surf equipment, apparel, and art retailer with both storefront and online sales planned.
“While we were enjoying a relatively smooth start to Q2, 2007 – we are in the process of building this company through the acquisitions and development of emerging action and lifestyle sports brands,” said Jim McGinley, President & CEO, Podium Venture Group, based in Portland, ME.
“Corduroy Surf Co., in its start-up stage, has developed a plan with tremendous ambition and vision. Simply looking at the comparable retail models in the industry; Pacific Sunwear of California Inc., Zumiez Inc., Urban Outfitters Inc., and also looking at the many successful online retailers i.e.; Bluefly.com, and Backcountry.com, it is easy to see the potential for organic growth and revenue. It also does not go unnoticed that the retail application provides a synergy with our other brands.”
Corduroy Surf Company will be headquartered in Maine and is scheduled to open its first retail storefront, CORDUROY, later this Spring.
Podium Venture Group owns the N'East lifestyle sports magazine and the Erino Clothing Company surf apparel brand.