Monday, January 10, 2005

Section parts ways with Spyder

Section and Spyder Separate Business Ties

BOULDER, CO, January 7, 2005 – Section Clothing Company and Spyder Active Sports, Inc. announce that Section has become its own business entity as of January 1st, 2005. The relationship between Spyder and Trent and Troy Bush began in 2002, with Spyder supporting the snowboard outerwear brand created by the brothers. The Bushes had control over the brand’s sales, marketing, and product, with Spyder’s back-end support given in IT, accounting and operations departments. Spyder and the Bushes have concluded an agreement enabling the brothers to purchase the Section segment of the business, allowing the Bushes to form a new company under their ownership going forward into the 2005-2006 season.
David Jacobs, Spyder’s president and CEO said, ”Spyder’s skiwear business has grown over 40% per year for the last three years, and does not show any appreciable rate of slowdown going into ‘05. This growth of the skiwear brand has not allowed Spyder to give the needed attention to the core snowboard brand that Troy and Trent Bush have created. I feel this as a great opportunity for the Bushes to give their brand the focus it deserves, and I wish them the best of success with it.”
Trent and Troy Bush, owners of Section, added “The acquisition of Section from Spyder allows us to concentrate on the tremendous opportunities for Section in the snowboard market, and lets Spyder do the same in skiing. We want to thank David Jacobs for believing in our vision of what Section can become, both at the beginning of our relationship, and now as we enter a new phase of our plans for Section.”

Section is a specialty snowboard brand founded in 2002 by Trent and Troy Bush, industry mainstays who have been influential in the development of the progressive snowboard industry since the late 1980’s. Section product is sold worldwide and is based around its patented Section Progression Systems features. It is developed and tested by many of the world’s best snowboarders including Marc Frank Montoya, Scotty Arnold, Casey Nelson, and Lindsey Jacobellis.

Spyder is the largest specialty ski brand in the world. It is an Official Supplier to the US Alpine, Austrian Alpine, Canadian Alpine, and Canadian Freestyle Ski Teams. The brand also supports Team Venom, a band of high profile pro freeskiers. Spyder products are renowned for their integration of high-technology fabrication, sport-specific function, and fashion conscious designs. Based in Boulder, CO, the company sells its performance apparel in the United States and Canada. Spyder is sold in 50 countries outside of North America through the Spyder-Europe office in Baar, Switzerland, and through independent distributors around the world.

Buyers Take: This should help the brand in my opinion. I never thought it was healthy for a snowboard brand to be in the same building as ski brand. Exciting things should come from Section.



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