Inman looks to womenswear to revive Billabong
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Billabong International Ltd is poised to launch a new strategy aimed at boosting sales in its embattled womens division, as prolonged negotiations over the group's future continue, The Australian Financial Review reports.
According to the newspaper, chief executive Laura Inman has flown to the United States to spearhead a move to revive its womenswear label, which has experienced a 40% drop in sales in the past four years.
Comparatively, Billabong's menswear division has lost a reported 4% in sales per year.
The move is not a surprise - only last year Ms Inman said "if we can get girlswear back to where it was, it will influence men’s sales."
US hedge fund lenders Centerbridge Partners and Oaktree Capital are currently mulling a a plan which would see them take on Billabong's debt, in exchange for equity in, and likely control of, the company (see Brett Cole's Billabong bravehearts).
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