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Billabong invests in Australian online retailer

Billabong International CEO
Billabong International CEO Derek O'Neill
By Tiffany Montgomery
December 28, 2009 7:05 AM

Here’s some news from Billabong announced just before Christmas.

The company has a conditional agreement to acquire a minority interest in Surfstitch, an online retailer in Australia. The agreement gives Billabong an option to acquire 100% of the business.

The purchase price was not disclosed.

According to the Surfstitch website, Managing Director Lex Pedersen and two partners worked on the business for three years, and a new website launched in September 2008.

The goal was to carry a wider range of styles and sizes than most brick-and-mortar stores stock. Surfstitch.com carries 10,000 items from brands such as Billbong, Rusty, Volcom, Insight and more. It also has a store on the northern beaches in Sydney.

Billabong’s move comes on the heels of its acquisition of Australian online retailer Swell.com.

 

 

 


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