O'Neill Sells Trademarks to Dutch Company
It all started more than 50 years ago when a chilly surfer looking for a bit of warmth in Northern California’s waters discovered a magic fabric called neoprene.
Jack O’Neill took that fabric and fashioned it into a basic wetsuit. That basic wetsuit in 1952 helped launch his worldwide company, O’Neill Inc., based in Santa Cruz, Calif. O’Neill not only sold wetsuits but also surfboards out of his surf shop. Later, surfwear, snowboard clothing and accessories were added to the surf-related lineup, which is sold around the world.
Now most of those apparel lines will be manufactured by Logo International S.V., a Dutch company that bought the California company’s international trademarks for clothing and products. O’Neill will continue to make wetsuits and snowboard clothing. It will also keep the company’s three surf shops in Santa Cruz.
The deal was inked on May 3 but not made public until May 16. Terms of the deal were not disclosed.
O’Neill has been an anomaly in the surfwear industry. While many surf-oriented clothing lines such as Quiksilver and Volcom readily became public companies in order to grow, O’Neill remained strictly a family affair, with Jack O’Neill’s seven children involved in the business.
Pat O’Neill, chief executive officer of the family-owned company and son of the founder, said the sale was more about the quality of life and letting the Santa Cruz venture get back to its roots. This will leave more time for surfing rather than jetting around the world building a brand.
O’Neill said the Dutch company, which operates 227 fashions stores in Europe, has the energy and network to take the brand to the next level.
It was not immediately known how the sale would affect the company’s 500 employees. Also unknown is how O’Neill Clothing in Irvine, Calif., which licenses the clothing brand, will fare. O’Neill Clothing is part of the La Jolla Group, which also has the license to make Lost Clothing and Metal Mulisha Clothing.
Jack O’Neill, in a statement, said the sale of the worldwide trademarks will allow the company to focus exclusively on its core business. “We will continue to support the independent dealer base that has supported us since the beginning,” he noted.
—Deborah Belgum
