Newell Brands’ announcement earlier this week that it plans to sell off or close all of its winter sports assets — including major brands like K2, Völkl, Line and more — had many in the ski industry envisioning a doomsday scenario. We all know that the industry is facing some difficult times — but has it really gotten to the point where major players like K2 and Völkl could disappear from the face of the Earth?
In what could be a reaction to the public outcry and interest in the decision, yesterday Newell Brands released an additional statement to assure us that K2 and Marker Dalbello Völkl will not, in fact, be closed down if a buyer isn’t found.
The goal of the process [of portfolio adjustment] from Newell is not to give up or close one of these companies, but to find a fitting buyer who is ready to continue to develop these long-established companies.
“As Newell Brands Inc. announced on October 4, 2016, several companies are for sale due to a portfolio adjustment. Among these are the two company groups Marker Dalbello Völkl as well as K2,” the new press release reads (original text in German). “The reasons for the portfolio adjustment don’t lie within the commercial development of these two renowned and tradition-rich winter-sports specialists, but in a change of focus from Newell with the goal of building a strong and leading company in the consumer goods industry.”
The release goes on to state that although new owners for the two companies will be sought in the coming months, that Newell has no plans to shutter either company.
“The goal of the process [of portfolio adjustment] from Newell is not to give up or close one of these companies, but to find a fitting buyer who is ready to continue to develop these long-established companies,” the statement continues—adding that product development for 2017/18 is already underway.
In other words, the world won’t be ending on January 1. K2, Völkl and their associated brands won’t be going anywhere anytime soon. Except, as Newell hopes, to new owners. Any takers?