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Friedman Stroffe & Gerard, P.C.

FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational needs.

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Industry Insight

MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.

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Tiffany Montgomery
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Fernando: The industry’s biggest challenges

By Tiffany Montgomery
January 01, 2008 5:30 AM

As ASR gets underway today I thought it would be good to step back and talk about the challenges facing the industry.


I asked Fernando Aguerre this question when I interviewed him, and below is an audio clip of his answer.


For those who don't know Fernando, he and his brother, Santiago, founded the Reef sandal company in 1985. It grew to well over $50 million in revenue (that's an estimate. Fernando would not disclose numbers) and the brothers sold 80 percent of Reef to financial investors in 2002.


VF Corp. bought Reef for $188 million in cash in 2005, according to VF's company filings. The Aguerres sold their remaining 20 percent at that time.

 


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