West 49

West 49 Inc.
Wholly owned subsidiary
Genre Clothing, Skateboarding
Founded 1995
Headquarters Burlington, Ontario, Canada
Key people
 Sam Baio
Revenue Increase $195.3 million (2006)[1]
Number of employees
 > 1,000 employees (2005)[2]
Parent YM Inc.
Website www.west49.com

West 49 Inc., is a Canadian specialty retailer of fashion and apparel, footwear, accessories, and equipment related to the action sports lifestyle. The retailer operates more than 100 stores across the country[1] and is Canada's largest skateboard and snowboard chain. In 2005, it was ranked the 82nd fastest growing company in Canada.[3][4] West 49 Inc. operates stores under several names: West 49, Billabong, Element Canada, and Amnesia/Arsenic.[1] On November 4, 2013, YM Inc. was confirmed as the new parent company of the retail chain.[5]

History

West 49 was established in 1995 by CEO Sam Baio, who opened three stores in Ontario, Canada. As of 2005, the company operated 65 locations in seven provinces, employed nearly 1,000 employees, and reported US$86 million in revenue for the fiscal year ending January 29, 2005.[6]

Starting in 2001, West 49 sponsored and hosted an annual international skate event, the West 49 Canadian Open. In 2005, Microsoft joined as a co-sponsor.[7] The West 49 Canadian Open is not on the World Cup Skateboarding event schedule for 2007[8] and, as of 2013, is no longer active as an annual skateboarding contest event.

On November 2, 2009, West 49 Ambition Skatecamp premiered on Bite TV.[9] The show follows eight young amateur skateboarders as they vie for a grand prize that includes a profile in SBC Skateboard magazine and a chance to compete in the Maloof Money Cup, a professional skateboarding competition. Along with the placement of the chain's name in the show’s title, West 49 is featured in product and logo shots throughout the series.[9]

Two retailers, U.S.-based Zumiez and Australian-based Billabong, engaged in a bidding war to take over the company. In July 2010, Zumiez decided to end its takeover bid, clearing the way for Billabong to acquire West 49.[10] On August 24, 2010, it was announced that shareholders had approved the sale.[11] As of September 2013, Billabong is in the process of finding a new buyer for the retail chain due to the internal financial problems of the company.[12]

Billabong's sale of the West 49 retail chain was announced on November 4, 2013, with fashion retailer YM Inc. identified as the buyer. West 49 will be sold for approximately CAD$9-11 million after Billabong originally paid CAD$99 million in 2010. The ownership of 92 West 49 retail stores, located across Canada, will be transferred through the deal.[5]

Brands

The chain carries brands such as Vans, DC, Billabong, Element, Blind, Roxy, Circa (C1rca), Nixon, Burton, Emerica, Plan B, Volcom, Diamond Supply Co., NEFF, RVCA, Altamont, Sector 9, Fox, Girl, Von Zipper, and Amnesia Inc.,[6] in addition to its own clothing line, West 49.[13]

References

  1. ↑ 1.0 1.1 1.2 West 49 Inc. reports fourth quarter sales CNX Marketlink (2007-02-07)
  2. ↑ Clothing chains tailor stores to customers Business Edge News Magazine 2005-08-12 (Retrieved 2007-03-27)
  3. ↑ The secret of Sam's success Strategy (August 2004)
  4. ↑ Profit 100 2005 Canada Business Online (retrieved 2007-03-27)
  5. ↑ 5.0 5.1 Kailee Bradstreet (4 November 2013). "BILLABONG ANNOUNCES DETAILS OF WEST 49 SALE". TransWorld Business. GrindMedia. Retrieved 5 November 2013.
  6. ↑ 6.0 6.1 http://www.west49.monstermediaworks.ca/en/one-community.html
  7. ↑ Microsoft Canada Teams Up With The West 49 Canadian Open—“Battle Of The Brands” 2005-08-16
  8. ↑ World Cup Skateboarding 2007 Event Schedule
  9. ↑ 9.0 9.1 West 49 On Bite TV Bite TV
  10. ↑ "West 49: Zumiez won't trump Billabong takeover offer". Toronto Sun. Sun Media. July 14, 2010. Retrieved 2010-07-15.
  11. ↑ "West 49 stockholders accept Billabong bid". CBC News. August 24, 2010. Retrieved 2010-08-26.
  12. ↑ Rebecca Urban (21 September 2013). "Billabong hushed up Nixon offload". The Australian. Retrieved 23 September 2013.
  13. ↑ Melanie Chambers (12 August 2005). "Clothing chains tailor stores to customers". Business Edge. Business Edge. Retrieved 23 September 2013.

External links