MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
I asked CEO Toby Bost some questions about the new space and if he has any plans to add to La Jolla's portfolio of brands. Currently, La Jolla has the license to make O'Neill, Lost, Rusty and Metal Mulisha clothing.
Why is the La Jolla Group (LJG) moving? Is LJG buying or leasing?
"LJG has leased a 200,000-square-foot building from The Irvine Company five miles away from the current headquarters.
"The new building will house LJG's portfolio of brands. We are in a campus style environment now operating three fully functional distribution centers. It's a balancing act. We are eager to have everyone under the same roof in order to leverage the synergies across the company and brands."
Any special features?
"The major renovation is being designed by LPA, an award-winning design and architecture firm out of Irvine. Among other things, the building will feature a state of the art distribution center, model retail store, fitness center, and a 6,000-square-foot, divisible conferencing and showroom center.
"We will miss the current freeway frontage location on the 405 but the new amenities and growth potential within the new location are an exciting next step for the LJG. I can't wait to provide an insane work environment for our employees. They spend most of their waking hours with us and should be in a space that is not only functional but productive and entertaining."
How are things going this year for the LJG? How much are revenues expected to grow in 2008?
"Growth projections for year end 2008 are on track to top 25 percent."
With the increased space, any plans to add a new brand?
"As for additional brands and acquisitions in 2009, LJG will remain incredibly opportunistic in this economic climate. At this stage, we literally can't fit another human in our facility. It's another story at the next building. Stay tuned."