Billabong Head Sees a Revival In US Market

Billabong chief executive Launa Inman is on a positive spin these days, as the US market is showing signs it is turning around and that recession may soon be over.

Ms. Inman, who heads what used to be a successful surf wear company that’s now struggling because of the global economic conditions, gets its enthusiasm from the recent performance of the US Market. The country accounts for over half of Billabong’s sales.

She said in an interview with a website dedicated for surfers, “While America did have its issues, it has turned the corner, particularly in the last six months.”

“The most important region is the Americas, and that is where our biggest sales come from, it’s got the greatest opportunity, and it actually has turned. We are very happy with it.”

She notes that the markets in Europe and in Australia remain challenging. ‘We’re not seeing any signs of any green shoots [in Europe]. At times you think you are, then something happens, a change of government … or something, and we just have to keep managing that.”

Ms. Inman is currently in the United States as Billabong has its newest collection’s launch. The company is also reportedly in the US to discuss options with financial experts and gain partners to help with its balance sheets.

Last year, Billabong was forced to assess making budget cuts and reduced orders and productions of low performing brands, while putting focus on its top four most profitable labels.