Globe Sells World Industries
Boardsport brand Globe International announced the sale of skate brand World Industries to Newport Beach, Calif.–based I.E. Distribution.
I.E., which acted as the brand’s global licensing agent, was World Industries’ top licensee, with licenses for footwear and snow products. Globe, which is based in Australia and has North American headquarters in El Segundo, Calif., acquired World Industries in 2002. The deal, which gives I.E. rights to the World Industries brand and its licenses globally, was valued at $8 million.
Matt Hill, Globe’s chief executive, said the sale came as Globe works toward concentrating on proprietary branded boardsport footwear, apparel and hardgoods. Dwindle Distribution, a division of Globe, will retain distribution rights for World Industries hardgoods for the grassroots market.
“This is a great outcome for both parties,” Hill said in a statement.
World Industries was founded as a skate brand in 1987 by professional skaters Steve Rocco and Rodney Mullen. John Dickinson, owner of I.E. Distribution, worked at Globe when the company purchased the skate brand in 2002. In 2004, Dickinson left Globe to form I.E. Distribution for the purpose of licensing World Industries footwear. Up next, Dickinson hopes to find international distributors for World Industries footwear and licensees for new categories worldwide.—E.B.
