Sponsors
Billabong ▼ 0.000 | PPR ▲ +2.20 | American Apparel ▲ +0.015 | The Buckle ▲ +0.19 | Columbia ▲ +0.65 | Deckers Outdoor ▲ +0.47 | Dicks ▲ +0.96 | Foot Locker ▲ +0.56 | Genesco ▲ +0.46 | Iconix Brand Group ▼ -0.10 | Jarden Corp ▲ +0.31 | Nordstrom ▲ +0.95 | Luxottica ▲ +0.61 | Nike ▲ +1.49 | Pacific Sunwear ▼ -0.03 | Skullcandy ▲ +0.01 | Sport Chalet - 0 | Urban Outfitters ▼ -0.16 | VF Corp ▲ +1.12 | Quiksilver ▲ +0.01 | Zumiez ▼ -0.08 | Macys ▲ +1.38 | Tillys ▼ -0.10 |
Ticker Sponsor
Readers Say
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
Industry Insight

MOSS ADAMS: Webinar 12/2 on internal controls to increase the value of your business.
AGENDA: 12/30 deadline to pre-register for Jan. 5-6 Long Beach show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

More details about Deckers deal for Tsubo

By Tiffany Montgomery
May 13, 2008 6:57 AM

I talked with Patrick McNulty to follow up on his company's decision to sell to Deckers Outdoor Corp. last week.


Patrick is the co-founder of Tsubo, a high-end comfort footwear line sold at stores such as Fred Segal and Barneys New York and in a dozen countries. Previously, he worked at Airwalk, Reebok and helped start Sanuk.


Deckers, owner of Simple, Teva and Ugg, purchased Tsubo for $8 million, which included $2 million in notes on Tsubo's books, McNulty said. In 2007, Tsubo recorded $10 million in sales.


Patrick said he and his partner, British designer Nick O'Rorke, looked for a strategic buyer for a year and a half that could take the brand to the next level. Up to now, the company had self-funded operations.


"At a certain point, you don't have enough resources and you wear too many hats," Patrick said. "We were profitable every year - we were cheapskates."


Deckers, with $448 million in annual revenue, has the money and sourcing capabilities to grow Tsubo.


Nick will remain with company, while Patrick has left. Patrick plans to stay in footwear, but wants to move back to the action sports market.


Tsubo started in 1998 and makes mens, women's and kids shoes.

 


Articles You Might Have Missed