Bong in big trouble

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The Mighty Sunbird
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Re: Bong in big trouble

Post by The Mighty Sunbird » Thu Jun 20, 2013 11:35 am

I dropped in to my local SDS yesterday and walked out with a pair of on sale Platinum bong boardshorts.
RRP $79.95
Sale price $10.00

They are actually a nice pair of boardies, first major label ones I've bought in 15 years I think.

But I don't understand. Are they selling their stock at a loss? Or was their profit margin 70 bucks a pair?
Erase.

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Legion
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Re: Bong in big trouble

Post by Legion » Thu Jun 20, 2013 2:17 pm

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Last edited by Legion on Mon Jul 08, 2013 12:28 pm, edited 1 time in total.

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Buff_Brad
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Re: Bong in big trouble

Post by Buff_Brad » Thu Jun 20, 2013 2:21 pm

Billabong shares currently on their lows at 14c.

It doesn't look good even at this price. The shorts , pun intended , have had a field day.

Mind you there should be some goodwill in the name surely.

Probably end up being split up I imagine.

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pinhead
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Re: Bong in big trouble

Post by pinhead » Thu Jun 20, 2013 3:11 pm

?
Dillinger wrote:I dropped in to my local SDS yesterday and walked out with a pair of on sale Platinum bong boardshorts.
RRP $79.95
Sale price $10.00

They are actually a nice pair of boardies, first major label ones I've bought in 15 years I think.

But I don't understand. Are they selling their stock at a loss? Or was their profit margin 70 bucks a pair?
I got some really fine khaki cotton walkshorts from the Bangalow Op Shop for $2. I arrived at the beach one day in them to find a nice little bank and that I'd left my boardies on the line. Elected to surf in my Op Shop shorts. They performed better than my board shorts, very comfortable, did not abrade my scrotum and when I got out I realised I'd had $2.20 in change in my pocket the whole time and hadn't noticed it. Was going to post a review. Took a long time to dry though.

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el rancho
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Re: Bong in big trouble

Post by el rancho » Thu Jun 20, 2013 4:32 pm

Buff_Brad wrote:Billabong shares currently on their lows at 14c.

Mind you there should be some goodwill in the name surely.

like what?
As a surfer and consumer in the current Billabong target market(just) I fail to see any positives in the Billabong brand/name.
I have a billabong wettie that gets a new rip or hole everytime I wear it now, it lasted one season intact. All their clothes look and feel like ratshit. mass produced in china and you can really tell. The quality of their garments is at the same level as Kmart.

Billabong products are overpriced, and it is obvious to everyone.
Billabong do not lead the market in any product. Maybe that wetsuit that Shane Dorian wears at Jaws.

What little workmanship integrity they had went with Nixon watches.

They are fucked.

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Re: Bong in big trouble

Post by Hollowed out » Thu Jun 20, 2013 5:25 pm

the Billabong branded stuff has real issues as per el rancho and many others experiences but they happen to own some brands that are at the top of their game like Xcel, Da Kine. Kinetic fins and even JS was somehow in the mix. These are just for example of the many brands bong owned or controlled.

Rumour is the problem seems to have been that the internal politics played by management played those internal brands off against each other instead of playing a team game and playing against outside competition Self canilabisation(sp?)

So it was poor management by greedy middle managers trying to protect thier own arses rather than the overall company welbeing and that culture crept in because institutional investors drove non core board members to get profit at any cost whilst not understanding what an opportunity they had to spread their market coverage.
Pity really for the rest of us lies, as just one example, in the fact that better wetsuits like those made by Xcel that pushed technology in the competitors will be lost.

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godsavethequeen
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Re: Bong in big trouble

Post by godsavethequeen » Thu Jun 20, 2013 8:47 pm

Hollowed out wrote: Pity really for the rest of us lies, as just one example, in the fact that better wetsuits like those made by Xcel that pushed technology in the competitors will be lost.
That's debatable I reckon. Billbong bought Xcel in 2007 (I think) at a time when Xcel were renowned for producing technically advanced, incredibly warm and durable suits. As far as I can tell, Billabong added nothing to the brand other than creating longevity issues that weren't there before, presumably by introducing cost-saving measures into the production processes.

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Re: Bong in big trouble

Post by alakaboo » Thu Jun 20, 2013 10:44 pm

Yeah, I got an Xcel post-takeover and it fell to bits in one season.

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el rancho
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Re: Bong in big trouble

Post by el rancho » Fri Jun 21, 2013 8:45 am

alakaboo wrote:Yeah, I got an Xcel post-takeover and it fell to bits in one season.
bet you're stoked with that.
was thinking of buying another one for this winter but hell, it's half over, I'll put up with the leaky Bong suit I have.

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el rancho
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Re: Bong in big trouble

Post by el rancho » Fri Jun 21, 2013 9:14 am

Rockin' Ron wrote:thats some serious intestinal fortitude up in queensland

I even have a huge novelty ballsack attached to the back of my ute ronnie.

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Re: Bong in big trouble

Post by alakaboo » Fri Jun 21, 2013 9:33 am

Should point out I lived in Sydney when the Xcel suit gave up.
Don't have a huge need for a sealed, insulated 3-2 up here. But if Steve ever sends me one I'll happily sell it on Ebay.

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el rancho
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Re: Bong in big trouble

Post by el rancho » Fri Jun 21, 2013 11:51 am

13 cents

<: <: <: <:

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Re: Bong in big trouble

Post by OddaP » Fri Jun 21, 2013 12:37 pm

I can't complain about Xcel. On my 3rd and great suits, apart from the uncanny ability of the lining to retain the piss smell. Seriously foul. Nixon are rubbish watches, they do however provide a good level of customer service and refunded me without complaint on the 2nd watch that leaked. Now on a Rip Curl Trestles and it shits all over the Nixon. Dakine make mighty fine grip and from reports here good leggies as well.

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Re: Bong in big trouble

Post by alakaboo » Fri Jun 21, 2013 12:45 pm

Dakine used to make really good snowboard packs. Still got one from 2001. Only cost me $20, though I suspect it was stolen.

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Re: Bong in big trouble

Post by Buff_Brad » Fri Jun 21, 2013 1:42 pm

el rancho wrote:13 cents

<: <: <: <:
Got down to 12.5c this morning - that's almost a 50% driop in the last fortnight.

Repeat - surely there is SOME VALUE in the name Billabong? NC?

Wow - it's going to the wall it seems.

What an absolute disaster.

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el rancho
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Re: Bong in big trouble

Post by el rancho » Fri Jun 21, 2013 2:05 pm

yeah but it's completely outweighed by the realisation of shitty business practices, debt, quality control and market saturation.

someone could scoop it up for a bargain price and spend ten years turning it around from the ground up. but that won't help the shareholders right now.

mind you I'm talking out my arse here.
you are right in seeking informed opinion from NC.

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Re: Bong in big trouble

Post by pinhead » Fri Jun 21, 2013 6:41 pm

Bong owned Surfstitch are having a 30% off sale - with the $AU getting a canning right now you can get a wettie at close to OS prices.

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Re: Bong in big trouble

Post by Legion » Fri Jun 21, 2013 6:46 pm

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Last edited by Legion on Mon Jul 08, 2013 12:32 pm, edited 1 time in total.

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