The Lotus Formula One Team is a big operation. Based in Oxfordshire, UK, it employs over 400 people.
The annual budget for competing in the 19 races on the F1 calendar is around $200 million (£130 million) to put 2 cars on the track.
But, their chief executive Matthew Carter tells me that this is much less than what the top teams are spending.
Lotus F1 is currently owned by Genii capital, a Luxembourg-based venture capital group. They brought in Carter to look at the team’s operation from more of a business than an F1 perspective … More
Billabong International Limited today announces the outcome of the strategic review of its multi-brand e-commerce businesses SurfStitch.com in Australia and Europe (“SurfStitch”), and Swell.com in North America (“Swell”)
As announced on 6 February 2014, the review considered a range of options for both SurfStitch and Swell, as Billabong moves to a direct to consumer omni-channel model across its global operations.
The Company announces today that it has … More
Yes, the world’s most famous energy drink is taking over surfing. As you might have noticed, the surf industry is suffering deep changes. Will the “Big Four” keep up as we know them? No, Red Bull is increasing the pressure on the conservative surf industry market.
Rip Curl, Quiksilver, Billabong and O’Neill. For more than two decades, these were the brands that we would traditionally see on the shelves of our local surf shops.
But the classic surfing oligopoly is quietly … More
Richard Branson is preparing to buy the Professional Kiteboard Riders Association (PKRA).
The Virgin mogul, a passionate and avid kiteboarder, has bought the rights of the PKRA World Tour, in an unusual joint-venture agreement with Best Kiteboarding and the Spanish entrepreneur behind Zed.
According to the German newspaper Frankfurter Allgemeine, the deal is … More