MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Fox has been growing very steadily and is on plan for 2009, said Director of Sales Kurt Schleicher and Director of Marketing Jim Anfuso.
"It was a tough Spring/Summer for everyone, but since Fall 2009 has delivered, business has been much better, reorders are good, and we're very optimistic about the fourth quarter," said Schleicher.
New for Fox for Spring 2010 is a global swimwear line. Fox will launch 16 swimwear styles that range from $74 to $89 that boasts the Fox DNA with logoing and more of a motocross vibe than a surf vibe. Anfuso said they've also added more technology like the "quad-stretch" fabric technology into their board shorts for men and women.
Last year, Fox did an exclusive swimwear line for PacSun which is their number one account. The line did so well, Fox is taking it globally. Fox has only been in PacSun for five years, and was one of PacSun's top three brands last year.
For Spring 2010, Schleicher said Fox Inc. will continue to focus on their key retail partners.
"Our marketing discussions start with retail so we go the extra mile from athlete tours, in-store promotions, getting in the field with retailers and special online promotions," said Anfuso.
Fox will not change pricing and will concentrate growth within existing accounts like PacSun, Tilly's, Glik's, Zumiez, Scheels in the Dakotas, and West 49 in Canada. They will be planning conservatively, but sticking to strategies that have been working.
"We have a very controlled distribution. We're one of the least major distributed brand in action sports, which has increased demand and improved sell-through for us," said Schleicher. "We do that because we're a private company and we don't have to post numbers for Wall Street so we can grow at our own pace and when it's right."