Skull Candy, the maker of uber hip headphones, Went public today.
The company is listed on the NASDAQ and started trading at $23/share.
What started in 2003 as a small start-up in Park City, Utah, is now the second largest headphone maker in the country.
Skull Candy considers itself a lifestyle brand, and they’re right to do so. They’ve managed to make their name synonymous with extreme sports, youth, and bright colours. Perfect for rebellious teens and edgy adults alike.
In the last year their sales have jumped 36%.
2009 net sales: $118,312,000,
2010 net sales: $160,583,000.
Q1 2010: $10,998,000
Q1 2011: $18,315,000
- Jeremy Andrus (CEO, President)
- Rick Alden
- Greg Warnock
- Dan Levine
- Clarke Miyasaki
- Mitch Edwards
- Aaron Behle
- Pura Vida Investment Capital LLC (affiliated with President Jeff Kearl)
- Monarch Partners LLC
- Mercato Partners LLC (afflilated with Warnock)
- Mercato Partners, QP , LP (afflilated with Warnock)
- Gazelle Investments LLC (afflilated with Warnock)
- Ptarmigan LLC
- JA Cropston LLC
And they can get relatively expensive:
- Ear buds range from $15-$70.
- Headphones range from 30-$150.
The money is in the details- the headphones/ear buds are eye-catching, made with wood and/or accented with bright metallic colours. And then there's the branding, products have exciting names like 'Uprock White', 'Riot Throwback', and 'Smokin' Buds Red.'
- Backpacks: $40-$70
- Hats/beanies: $16-$40
- Phone/IPod cases: $25-$30
- Belts: $12-$22
- Wallets: $12-$15
- Necklaces: $10
- Watches: $150-$170
- Ipod docks: $180
Snoop Dogg's in on it, as are pro snow boarder Danny Kass, legendary DJ Mis Master Mike, and basketball player James Harden of the Oklahoma City Thunder. Just to name a few.
Not only that, but Skull Candy has turned their website is into entertainment hub helps to shape their identity. On the front page they post features on musicians and athletes they like. They also have a section called Skull Candy TV, a video player with separate channels for music, extreme sports, and something called the 'Daily RIP'- which is basically just a clip of someone, somehow getting some serious air.
It cost them $10.8 million and should expand their product line.
- Wireless systems
- Gear bags
- Head sets
- Audio systems
Interest expenses have decreased $0.2 million over the last year (down to $2 million).