MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
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At Class at ASR, Greg Osthus, the General Manager of Atwater, talked about the Newport Beach based brand. Atwater is only three years old.
"We're a hybrid brand, like a RVCA," said Osthus describing Atwater. "We hang in skate shops, surf shops, and boutiques."
Atwater's revenue is just under $5 million, but Osthus says they are growing fast.
"We're up mostly because we just started," he said. "We're going into new territories that have never seen Atwater and that's why we've seen good growth in terrible times when people are just trying to anniversary their numbers."
(Right: Atwater Partner Scott Madison.)
He also said that picking the right partners has been a key to their growth, adding that accounts like Surfside Sports, Jack's, Sun Diego, the Closet, Zumiez, Nordstroms, and Active, have embraced the brand.
For Spring 2010, Atwater is pushing innovation in their boardshort line, and sticking to bright colors, which Osthus says has added freshness to the market.
"Right now we're trying to get to 10 million," he said of their current goal. "We're always implementing new strategies to put into place."