Vans Will Not Renew US Open of Surfing Sponsorship
Vans has chosen not to renew its title sponsorship deal for the US Open of Surfing, SES has learned.
“The decision to not renew our title sponsorship of the US Open of Surf comes as we look to prioritize several of our owned events, activations, and contests,” the company said in a statement provided to SES on Tuesday.
Those owned events include the House of Vans brand platform; the Vans Showdown and Block Party in skate; and the Vans Pipe Masters and Duct Tape Festival in surf, among other activations.
“This decision allows our brand to lead from the front, across our core brand pillars of Action Sports, Music, Art, and Design,” the company added.
Vans first took up title sponsorship of the annual event, dubbed the “Super Bowl of Action Sports,” beginning in 2013, after Hurley and then-parent Nike pulled out of the event. Vans, at the time, inked a three-year deal with IMG, which was later renewed.
Vans has also made additional cuts to its staff, SES has learned.
Those reductions include both existing and open roles, a source with knowledge of the matter said.
A Vans spokesperson declined to confirm the specific number of reductions.
“The decision to restructure is part of our ongoing plan to shape the Vans brand strategies of the future, which (Vans Global Brand President) Kevin Bailey highlighted during VF’s recent Investor Day as part of our operating model opportunities,” the company said. “This results in both promoting key talent, adding new roles, eliminating specific roles across our organization, and comes as we continue to compete in an ever-changing global marketplace and look to reinforce our efforts to fuel long-term growth and our connectivity with fans across the world.”
The staff cuts and re-focusing of Vans on in-house events comes as parent VF Corp. looks to affect a turnaround on the business. VF reported Tuesday that Vans sales in the quarter ended Dec. 31 fell 9% in constant currency to $926.9 million.
For a more detailed report on Vans earnings, read our separate story here.