Sponsors
Billabong ▲ +0.035 | PPR ▲ +0.20 | American Apparel ▲ +0.008 | The Buckle ▼ -0.07 | Columbia ▼ -0.49 | Deckers Outdoor ▼ -0.13 | Dicks ▼ -0.15 | Foot Locker ▲ +0.12 | Genesco ▼ -2.64 | Iconix Brand Group ▲ +0.13 | Jarden Corp ▲ +0.16 | Nordstrom ▼ -0.39 | Luxottica ▲ +0.57 | Nike ▼ -0.27 | Pacific Sunwear ▼ -0.22 | Skullcandy ▲ +0.09 | Sport Chalet - 0 | Urban Outfitters ▲ +0.02 | VF Corp ▲ +0.30 | Quiksilver ▼ -0.02 | Zumiez ▲ +0.20 | Macys ▼ -0.07 | Tillys ▼ 0.00 |
Ticker Sponsor
Readers Say
The first thing I look at
The first thing I look at

I find Shop-Eat-Surf to be a very useful and informative site that I enjoy browsing daily. Shop-Eat-Surf is the first thing I look at every morning to keep up-to-date on the latest talk, events, and happenings in the industry. I must say I am a fan of Shop-Eat-Surf.

- By Bobby Abdel, Partner, Jack's Surfboards
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
Industry Insight

AGENDA: Video recaps, 2015 show dates, "Love Made Me Do It" women's networking series on Wednesday.

STOKES ME: Deadline today to enter SIMA Humanitarian Fund's Bowl-a-thon fundraiser.

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