Retail director Simon Traynor, who joined the Australian-founded business in August, said he arrived at the company with the simple purpose to improve earnings before interest and taxes.
In a bid to achieve this, a review is currently being carried out of the company’s three global market leading brands - Quiksilver, Roxy and DC.
The womenswear store Roxy, in Bondi Junction, only recently closed, and next for the chop is the Roxy shop on Pitt Street in Sydney’s CBD.
Traynor, who was the former CEO at Denim Enterprises and has experience with retailers Coleman and Nike, said these locations did not prove profitable, so stock will be moved into nearby Quiksilver stores.
He said the company is also reviewing the three separate Quiksilver, Roxy and DC stores at Manly Corso to see if it would be more profitable to trade from one location.
“They are all core brands and enjoy broad appeal, but the right question we are asking for the future is whether to keep some as stand-alone stores or whether to put all brands under one roof,” Traynor said. “We are running through all 45 stores across Australia and New Zealand with a fine-tooth comb and we will be making strategic decisions.”
Traynor said some stores may be given the ‘love and care’ and cash boost they need to help them become more profitable, while some will close and the opportunity to open new stores is still on the agenda.
“Globally we are a $2 billion business, we have the balance sheet and the company structure to address the challenges facing the retail industry, but we will continue to shut doors that are unprofitable and continue opening doors that will be both profitable and, more importantly, drive our brand(s) to our consumers,” Traynor said.
Two stores have opened over the past three months, one of which includes the global debut of menswear label VSTR, a brand idea inspired by surf legend Kelly Slater’s experiences.
Traynor said the group expects to open more VSTR stores in Australia and globally and will also introduce online shopping for the fledgling brand.
Traynor said three new retail experts have also been hired over the last three months to help drive growth.
Former Billabong employee Todd Liddy is now Quiksilver’s national sales and operations manager. Just Group’s former visual merchandising and communication manager, Bridget Christie, has also recently joined the surfwear powerhouse brand, along with Kirsty Mclean from UK brand Luxottica, who is now Quiksilver’s loyalty marketing manager.
Pippa Chambers