Valuations & Acquisitions: Tough Time to Compete, Worse Time to Sell
“We needed to focus our limited resources — namely, capital and people — behind Aventura,” Kirsch says. “It’s growing 30 percent a year and has been profitable since its launch four years ago.”
In a strange sense, Kirsch’s decision to sell the title in the midst of the worst economy since the Great Depression is appropriate. Good timing has always eluded Waterfronts Nautical — which accounts for about 35 percent of the parent company’s sales — like eight years ago when it was about to unveil a major merchandise launch and Sept. 11 happened.
- People:
- John Kirsch
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