Russia might not be known for its surfing up culture, but that won’t stop Australian surfwear giant Billabong opening stores in Moscow.
Russia might not be known for its surfing up culture, but that won’t stop Australian surfwear giant Billabong opening stores in Moscow.
“There’s a considerable opportunity there,” chief executive Derek O’Neill told Fairfax after delivering Billabong’s full-year profit result late last week.
“With internet and satellite TV today, the kids in areas like Russia are as informed about trends and brands and music as anyone.”
Apparently a colder climate and a lack of beaches is no hindrance to surfwear sales.
Billabong, which reported 5.5% increase in net profit to $176.4 million, already sells product into Eastern European countries such as Czech Republic, Hungary, Poland and Estonia. In 2007-08, sales in Germany – another country not known for its beach culture – grew by 40%.
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