Billabong’s new CEO, Neil Fiske, said “We have been trying to do too many things — and none of them particularly well,” Fiske is planning 25% fewer lines with higher margins and greater turn around. “Our lines are too wide and too shallow…we turn our inventories only 2.4 times,” “With a strong merchant front end, we will focus on fewer, bigger, better styles that turn faster, have better margins and drive top-line growth.”
Fiske is particularly upbeat about Billabong’s chances of resurrection - ''We can take a heritage brand, modernise it and make it relevant again … I'm convinced it will become cool again.''
