MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Leaders from different parts of the action sports industry have joined to create a new, upscale sunglass brand that marries fashion and action sports.
Skateboard mogul and television star Rob Dyrdek and Pete Fox, CEO of Fox Head Inc., will launch IVI (pronounced “eye-vee”) in the spring.
Jerome Mage, also a partner, is the lead designer.
Pete, a designer at heart, said the creative synergy between the three of them is amazing.
“We’re either all drinking the same Kool-Aid or we’re on to something,” Pete said.
IVI is a separate company from Fox, though Pete personally and Fox as a company are both investors.
Below, Pete, Rob and Jerome answer some questions about IVI, including the opportunity they see in the market, price points, and distribution targets.
Pete: First, I love the challenge of a new brand. It brings me back to my high school days helping my dad determine how Fox would be shaped.
Second, tough economic times create both challenges and opportunities. We feel that this is a great chance to start a new company in a relatively quiet environment, because there isn’t much positive news out there.
Ultimately though, it took being able to have the right pieces come together, and with Rob and Jerome as partners I think we have an incredibly powerful team. Rob was definitely at the very top of my list of people who I always wanted to work with - the guy is brilliant.
Pete: There are a lot of good brands in the market now but there is a big gap between action sport eyewear and fashion eyewear and we feel IVI fits this gap well from a design and marketing standpoint.
Pete: Our target channels are Premium Action Sport, Lifestyle Boutique, Sunglass Specialty and Optical.
Pete: Rob dreamt it up! We wanted something clean and timeless. After a bunch of brainstorming sessions, he sent me an email with the name and was really passionate about it and how it would work on product and in marketing.
As soon as we saw our first prototype with the logo on it, we knew we had something special.
Pete: Absolutely. Fox Eyewear is a great global business for us, and continues to grow season over season. IVI is a separate company. Fox and IVI products have totally different design aesthetics, marketing directions, and are targeted toward different customers. Both brands are going to live and grow separately.
See Page 2 for more details about IVI, including price points, new positions the brand is hiring for, and why Rob Dyrdek is involved