Major brands in the ski and snowboard world including K2 and Volkl are to be cut from parent company Newell Brands Inc in major culling from their portfolio..
According to the New York Times on Tuesday, 4th October, Newell Brands Inc are set to sell 10% of their portfolio which includes major ski and snowboard brands, Volkl , K2, Ride Snowboards, Marker, Line, Marmot and Full Tilt
The move is 'to simplify its operating structure as it continues to remake itself after its recently completed $15 billion merger with Jarden Corp,' according to the New York Times.
The consumer-goods company said the assets to be sold had 2015 revenue of about $1.5 billion compared with pro forma, companywide revenue of $14.52 billion.
According to the Denver Post, yesterday there are 'less than three months for Newell to find a buyer for K2 Sports, one of the most recognized brands in skiing. Hints that changes were afoot emerged last month when K2 began quietly jettsoning its top athletes such as Colorado Freerider, Seth Morrison (main image, Teton Gravity Research).
'In 2013, K2 Sports acquired Boulder’s Backcountry Access, a pioneer that has developed some of the most respected avalanche safety gear in the industry. The BCA brand has continued to thrive under the partnership with K2, developing a leading line of avalanche airbag packs and developing in-depth avalanche safety research.'