Quiksilver, Australia'S Trademark Brand, Was Once A $1 Billion Giant.

Founded in 1973, Australia's Surf dress brand Quiksilver, like its rival Billabong, is looking for a buyer who fails to file for bankruptcy protection.

According to sources, the company has been working hard and emerging.

Such as fast fashion H&M competition, so as to maintain a cool image in the core of its young audience.

Last year, the brand turnover decreased by 14%, and the company lost 309 million 400 thousand dollars.

According to the eleventh chapter of the bankruptcy protection act of the United States, Quiksilver can be dissolved immediately after payment of debts.

According to Bloomberg reports, Oaktree Capital Management investment company will take charge of the company and provide $175 million in financing.

Oaktree is headquartered in Losangeles and has long been associated with surfing industry.

The company is closely related to Centerbridge Partners, Australia.

Billabong International Ltd behind the biggest gold master.

Oaktree manages capital totalling over $100 billion.

In November 2013, Matthew Wilson joined the board of Billabong and served as the principal shareholder of Oaktree. It resigned overnight because of potential conflicts in the Oaktree portfolio.

In 1990s, Quiksilver launched ROXY, a beach and surfing costumes brand for women. Its popularity surged through cooperation with a large number of well-known surfing women such as Layne Beachley.

ROXY later launched a series of jeans and ski equipment to become very popular in Australia and overseas markets.

Fashion brands.

Quiksilver is famous for the invention of surfing trousers, which has also become the standard beach surfing costumes for generations in Australia.

Surfing pants are made of double clasp and Velcro technology to ensure that they can withstand the need for sports in the worst surfing environment.

The business was invented by Alan Green and John Law, so they can make a living in Torquay and Vitoria, and are still surfers.

Alan's wife Barbara first thought of the word "quicksilver" (Shui Yin), expressing the elusive liquid and capricious feeling. She thought it sounds like Alan's career.

In 2004, the company used to be a $1 billion tycoon. The fashionable market change is so unpredictable.