Skullcandy
 | |
| Public | |
| Traded as | NASDAQ: SKUL |
| Industry | Audio, action sports |
| Founded | 2003 |
| Headquarters | Park City, Utah |
| Products |
Headphones Audio equipment, audio accessories |
Number of employees | unknown |
| Website | http://www.skullcandy.com/ |
Skullcandy (NASDAQ: SKUL) is a publicly traded company, based out of Park City, Utah, that makes headphones, earphones, hands free devices, audio backpacks, MP3 players, and other audio equipment products. The company was founded in 2003.[1]
Skullcandy's products are targeted at the outdoor action sports demographic (such as snowboarders and skateboarders) and general consumer market.[2] Skullcandy products are sold through retailers, specialty outlets, and their online store.
Company history
Skullcandy was founded by Rick Alden in 2003. The first Skullcandy product, the Skullcandy Portable Link, was introduced at the 2003 International Consumer Electronics Show (CES) in Las Vegas, Nevada. The LINK system combined headphones with hands-free cellular technology, allowing users to both listen to music from a portable audio device, while making and receiving calls through their cell phone. In 2003, Alden sold the first products to Milo Snow & Skate, an action sports shop in Utah. The Skullcandy logo was designed by Jef Ingram.
Alden was named one of vSpring Capital's "Top 100 Venture Entrepreneurs" of 2008,[3] and holds a patent for technology that integrates mobile phones and music players, LINK technology.[4]
In December 2008 the company was named "the world's coolest ear bud," by Fortune Magazine. In addition, the company received local standing in 2008, placing in the Utah Business Fast 50, featuring the top 50 best and most innovative companies throughout the state.[5] The company has quickly jumped to its place as the third most-sold headphone in the U.S. marketplace.[6] In 2005 the company had $1.3 million in annual sales, while its 2009 ranking puts it in place to hit the $100 million mark. As quoted by the Salt Lake Tribune, "We're gunning for No. 1," said Andrus, Skullcandy's President.
In April 2011, Skullcandy purchased fellow headphones manufacturer Astro Studios (Astro Gaming). The reason for doing so was to exchange information for the planned second generation of Skullcandy gaming headsets.
On January 28, 2011, Skullcandy filed for initial public offering with the Securities and Exchange Commission.[7] This announcement was met with some criticism from financial press.[8][9]
Partnerships
Sponsored athletes
Known for its relationships with various action sports industries, Skullcandy sponsors professional athletes in snowboarding, skiing, skateboarding, wakeboarding, motocross, and the biking communities. Working with athletes such as Terje Håkonsen, Louie Vito, Clay Marzo, Balaram Stack, Marc Frank Montoya, Kevin Durant, and Derrick Rose has spawned some of Skullcandy's signature action sports pieces including the Terje Nine and MFM Pro. They have also released a wide range of NBA color themes, and are sponsoring several NBA teams. In 2012 supermodel Kate Upton was recruited to help promote their various sports lines, and has been largely successful with promoting the company.[10]
Non-profit
Skullcandy is currently involved in supporting "Boarding for Breast Cancer" initiatives. Boarding For Breast Cancer (B4BC) is a nonprofit, youth-focused education, awareness and fundraising foundation designed to increase awareness about breast cancer, the importance of early detection and the value of an active lifestyle. Skullcandy announced their 2007 donation of $36,723.80 to Boarding for Breast Cancer at the 2008 SnowSports Industries America (SIA) Snow Show, making their contribution the largest one-time donation the organization has yet to receive. A B4BC supporter since 2006, Skullcandy donates 5% of all pink products sold to support the organization’s efforts.
Promotions with artists
Skullcandy features artists that endorse their products with special designs. They worked in partnership with Jay-Z to design Roc Nation Aviator headphones, advertised mainly by UK singer Rita Ora and also produced two designs of Skullcrushers featuring rapper Snoop Dogg themed designs.
Skullcandy collaborated with Metallica in conjunction with the band's 9th album release Death Magnetic, released two variants of limited edition themed headphones (hesh and low rider model) and a card with an access code to legally download the album from a website.
Products
Skullcandy has a wide range of headphones. They come in a wide range of colors, graphics, and designs from over-ear headphones to on-ear headphones such as the Mix master (over-ear), the Aviator (over-ear), and the Titans (in-ear). The company also has several docks for iPhones, iPads, and iPods (Pipe and Vandal). In 2012 Skullcandy unveiled their first gaming headset in several years, entitled SLYR. The initial launch was met with mixed reviews, and several months later they successfully launched a higher priced headset titled PLYR 2. The company's most recent releases are the $179.99 Dolby Surround Sound PLYR 1 headset, and the sub-woofer utilizing $99 Crushers. The former of which was highly publicized through promotions with many athletes and artists, who appeared in roughly 30 reaction videos when submitted to the headphone's subwoofers.
Product Line
Ink'd 2
Claimed as the "#1 selling bud in America" Skullcandy's entry level product is also their #1 selling product. Generally retailing around $10–$20, a wide range of color combinations, and found in most retail stores, sales are found easily in large quantities. The ear buds feature 11mm drivers, a flat cord, and an inline Mic 1.
Smokin Bud
The Smokin Bud is a mid grade model of ear buds from Skullcandy featuring a 9mm drivers and a Mic 1. In its new redesigned 2013 model, Smokin Bud 2, it also features a flat tangle free cord. Like most other entry level products from Skullcandy, the Smokin buds feature a wide assortment of color schemes.
Hesh 2
Hesh 2 headphones are over-ear headphones available on Skullcandy's online store, ranging in the ~$60 retail price. Like many other Skullcandy products the headphones are available in a large assortment of colors.
References
- ↑ "Skullcandy - Crunchbase". Crunchbase.
- ↑ "Skullcandy adds Scot Carlson as vice president of finance". Globalsurfnews.com. 2008-04-01.
- ↑ "vSpring Capital Releases Its List of the 2008 Top 100 Venture Entrepreneurs". SYS-CON Publications. 2008-03-16.
- ↑ Cannon, Karl R. (2007-04-03). "20 patents include core brace". Deseret News Publishing Company. Retrieved 2008-04-06.
- ↑ Copeland, Michael (2008-12-30). "The world's coolest ear buds". CNN. Retrieved 2010-05-23.
- ↑ "Skullcandy Feeds Your Head". Salt Lake Tribune. 2008-04-20. Retrieved 2009-04-20.
- ↑ "Form S1 for Skullcandy, Inc.". SEC.gov. 2011-01-28. Retrieved 2011-02-15.
- ↑ Berman, Dennis (2011-02-01). "Skullcandy IPO? Check Your Head". WallStreetJournal.com. Retrieved 2011-02-15.
- ↑ "Market Watch: The Game: Skullcandy IPO is a Headscratcher". 2011-02-01.
- ↑ Peterson, Tim. "Kevin Durant Takes Kate Upton to Work in Skullcandy Ad". Adweek. Retrieved 14 January 2013.