Swell retail space for Firewire

Written on the 5 March 2009

 

SURFBOARD technology company Firewire has downsized its operations and relocated to Currumbin from Burleigh Heads to better showcase and manage its retail presence.
The move comes as the surf hardware specialist signs a deal to supply its composite technology to US surfboard manufacturer Lost. Firewire chairman Nev Hyman says the Lost deal will add around 20 per cent annual growth to the company’s balance sheet. Talks are progressing for a similar arrangement with a leading longboard brand in Australia. While Hyman would not disclose any further details of the prospective partnership, he says it’s an ‘exciting’ time for the brand in a competitive market.
“We now sell Firewire to 100 outlets in the US but we are a new brand in an established market,” says Hyman.
“We are collaborating with another major brand so that we can spread ourselves a little more but in a high performance space. We don’t want to just sell the technology to anyone.”
Hyman says the company’s new 300sqm showroom on Currumbin Creek Road has made the brand more retail friendly with a showroom and parking for 10 cars.
Firewire last year shifted its manufacturing plant offshore to Thailand. Employing 120 people globally it has taken the US market by storm which now drives 70 per cent of the company’s revenue. Australian sales equate to around 20 per cent and the remainder is split between Japan and Europe.
Firewire surfboards are now sold in 400 international retail outlets throughout the US, Europe and Japan. The company won the rising star category at the Premier of Queensland’s Smart Awards in 2007 after starting as a small surfboard shaping and retail store in early 2006, with 17 staff making 10 boards a week. Australian professional surfer Taj Burrow is the Firewire team rider on the WCT international surfing tour while local surfer and world renowned former pro Michael ‘Munga’ Barry is one of the company’s board shapers and test riders.  

Latest News

FLYING START TO 2017 PASSENGER NUMBERS FOR GOLD COAST AIRPORT

RECORD numbers of travellers used the Gold Coast Airport (GCA) in January this year, continuing a five-year trend ...

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie th...

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter