Volcom and Boardriders brands are returning to Hawaii with the reopening of two flagship retail locations on O’ahu, marking a renewed commitment to the surf culture that has long shaped the brands’ identities.
Volcom and Boardriders brands reestablish retail presence in Hawaii. – Volcom
Boardriders will reopen its U.S. flagship in Waikīkī through Authentic’s partnership with BR Japan. Located steps from the Duke Kahanamoku statue, the more than 7,000-square-foot space will serve as a key global retail destination, offering a curated assortment of Action and Outdoor brands including Quiksilver, Billabong, Volcom, Roxy and RVCA.
“Our store sits right in front of the birthplace of surfing, the most important location in surfing history,” said Sammy Yoo, president of BR Japan.
“This is our flagship store, arguably the most important property in the surf industry, and we want it to feel truly original. The imagery we’re collecting, from Waikīkī’s early surf culture to iconic shots of our athletes, honors the past while inspiring the future.”
Volcom will also reestablish its presence on the North Shore with the reopening of its Haleiwa store through Authentic’s partnership with The Levy Group, which has teamed up with longtime Hawaii retailer Cycle City.
“Reestablishing Volcom’s presence in Haleiwa is an important milestone for us,” said Louis Levy, president of The Levy Group.
“Hawaii has always been central to the brand’s story, and we’re committed to building stores with a partner that reflects the energy, creativity, and authenticity that define Volcom. With our iconic Volcom houses at Pipeline only six and a half miles away, re-opening this location is another step in supporting Volcom athletes, consumers, and the community on O’ahu’s North Shore”
Authentic acquired Boardriders from funds managed by Oaktree Capital Management, L.P., in 2023. Through this acquisition, Authentic expanded its portfolio with Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua. Likewise, Authentic acquired the Volcom brand from luxury giant Kering in 2019.
Since acquiring the brands, Authentic has focused on expanding the Action and Outdoor Sports portfolio through partnerships that reflect the heritage of each label. The Hawaii openings follow the launch of 15 new stores across Western Europe and contribute to more than 20 new retail locations opened globally with partners to date.
On Friday, beauty giant Coty stated it has sold its residual 25.8% stake in haircare brand Wella to US investment firm KKR for $750 million. Coty has retained the rights to a share of any future sale of the brand, or any revenue accruing from an IPO.
Wella Professionals
Coty said it is entitled to a 45% share of any proceeds from a sale of or IPO for Wella, once KKR’s preferred return has been achieved, adding that it plans to use most of the initial liquidity to reduce its debt.
The Wella sale brings to fruition a plan Coty initiated in 2020, aimed at streamlining its portfolio and operations, and at maximising the value it can generate from the Wella business, Coty added.
Earlier this year, Coty embarked on a strategic review of its beauty business which could lead to the sale of brands such as Rimmel and CoverGirl. The group’s goal is to refocus on the fragrance segment in the face of persistently weak demand for colour cosmetics.
This year, Coty’s shares lost almost half of their value.
Coty was founded in 1904 in Paris, and is the fragrance licensee for labels like Gucci, Chloé and Burberry. According to LSEG data, the group’s market capitalisation is approximately $2.8 billion.
The UK’s official statistics agency released its November sales report on Friday and it wasn’t great. But perhaps more useful was the CBI’s holiday trading retail report as its showed how retailers are faring just about now.
Photo: Pexels/Public domain
And the news? Its distributive trades survey showed retailers are facing “bleak holiday trading as [the] sales outlook darkens”.
The survey is based on the weighted number of retailers who said sales fell, stayed static or rose, regardless of whether those rises or falls were big or small.
It showed that retail sales volumes fell “at an accelerated rate in the year to December, extending a period of weakness that began in mid-2023”.
And the New Year is “expected to start on a gloomy note for the retail sector. Retailers anticipate that annual sales will fall sharply next month, with expectations at their weakest since March 2021”.
Overall, a balance of 44% sales sales fall, worse than the 32% in November, with 57% expecting the downturn expected to deepen in January.
Sales for the time of year were judged to be “poor” in December, to a greater extent than last month (-31% from -20% in November). Next month’s sales are set to similarly disappoint against seasonal norms (-34%).
Online retail sales volumes also declined at a moderate rate in the year to December, following two consecutive months of growth (-12% from +13% in November). Sales are expected to contract at a steep pace next month (-42%).
Martin Sartorius, Principal Economist, CBI, said: “Retailers reported that annual sales volumes fell rapidly in December, as weak consumer confidence contributed to softer trading conditions in the lead-up to Christmas. Firms do not anticipate any relief in the New Year, with sales expectations deteriorating to their weakest in over four years.”
Victoria’s Secret will be opening its first standalone store in Nottingham in the spring with the brand (which is operated in the UK by Next in a JV with its parent company) opening in Victoria Centre, the key East Midlands retail destination.
Victoria’s Secret
The new 6,000 sq ft store will be located on the Lower Level, joining an already-strong mix of international brands including Levi’s, Urban Outfitters and Rituals. The mall operator said the news “is a direct response to rising customer demand for a Victoria’s Secret store within the centre”.
The opening certainly makes sense with 63% of the mall’s visitor base being female and the very large student population in the city (there are 65,000 students there).
The operator also said the mall is seeing a “growing number of affluent guests” and it’s focused on adding “high-performing brands that resonate with its core demographic and reinforce its position as the city’s number one retail destination”.
Victoria Centre, which also has a flagship John Lewis and Boots, has seen a brand refresh this year as part of SGS UK Retail’s strategy to upgrade its whole portfolio.
Rebecca Milnes-James of the mall’s asset manager Pradera Lateral said of the latest store opening news: “Victoria’s Secret choosing Victoria Centre for its first standalone Nottingham store is a powerful endorsement of the momentum we’re building. Our strategy is focused on elevating the centre’s premium mix and ensuring we put high-performing, in-demand brands in front of our loyal and diverse guests.”