Quiksilver, Inc. has joined with PBM International in creating a JV to market, selln and distribute “Quiksilver” and “Roxy” branded products in Mexico. The joint venture will be responsible for establishing a Mexican distribution network of company-owned retail stores as well as a wholesale business that will include licensed retail stores, large key accounts and small independent retailers.
This venture furthers Quiksilver, Inc.'s strategy to own and operate its business in key territories. Quiksilver, Inc. believes that the Mexican market, which includes popular high-end surfing and travel destinations in a number of coastal cities in Baja and mainland Mexico, is highly attractive and that the “Quiksilver” and “Roxy” brands will resonate well with consumers in this market. PBM International is a leading branded and licensed apparel marketing and distribution company in Mexico and distributes footwear, apparel and accessories under the names Le Coq Sportif, Arena, and FIFA. Quiksilver, Inc. will hold a majority stake in the joint venture.
Bernard Mariette, President of Quiksilver, Inc., commented, “This new venture is a perfect fit for our strategy. Not only is Mexico an exciting and potentially meaningful market, but we are very confident that we have found exactly the right partner in PBM International. This is another important step in the advance of our strategy to become the world's leader in the outdoor sports lifestyle market. We are excited for the development of this venture and believe it will prove to be quickly successful.”
Martin Samuels, President of Quiksilver Americas, commented, “We are extremely pleased to partner with PBM International who is recognized as a leading apparel marketing and distribution company in Mexico. Importantly, they have a thorough understanding of our lifestyle positioning, brand message and distribution strategy. We look forward to a profitable and mutually beneficial relationship.”
Mauricio Brener, CEO of PBM International, stated, “We are proud to have been selected by Quiksilver as a partner to represent their brand and business in Mexico. We have broad experience in the branded lifestyle and retail market and could not be more pleased with the opportunity this represents to build our increasingly strong portfolio of businesses. We intend to proceed purposefully with expansion into key markets in Mexico with strong retailers and to develop compelling destination retail stores to enhance the communication of the lifestyle and to maximize our opportunity.”