Sector 9 Sold by Billabong to Bravo Sports
While the details are very limited at this time, we have reports that Billabong has sold Sector 9 to California based Bravo Sports for approximately $12M.
It is no secret that Billabong International Limited has had financial troubles and that the retail market as a whole has had issues all over. There is a general shift in where and how consumers have been spending their money. With these changing tides, business continues and Billabong is doing as business does to satisfy profitability and in the case of publicly traded companies, shareholders. In this case, the focus is it’s other core brands; Billabong, RVCA and Element.
Sector 9, founded in 1993, is a revered part of our longboard industry and one of the original brands pushing the community and culture of unpretentious fun. New parent, Bravo Sports seems to have some experience with the skate market and currently has Pro Tec and Kryptonic under the same umbrella. We can only hope the transition is smooth and invigorates Sector 9, from a business standpoint, and keeps the the #WeMakeFun crew going strong and helping us all enjoy skateboarding just a little more.
More details to follow as we have them.