CA-based Oakley has named a new President and reported
an increase in fourth-quarter earnings, according to Kirsten
Searer of the ORANGE COUNTY REGISTER. Oakley promoted Colin
Baden from VP/Design to President and said he will be in
charge of advertising, product design and development.
Baden, who has been with Oakley since '96, will also be
responsible for promoting the new lines of eyewear and
watches. Jim Jannard, who had previously held the positions
of both Chair & President, will remain Chair. The company
also reported that fourth-quarter earnings were up 1% from a
year ago, to $3.4M, on net sales of $53.6M, due to a "steady
increase" in eyewear and international sales. However,
customers "have been less eager" to purchase the six-month-
old Oakley shoe line, with sneakers priced at $125.
Oakley's Renee Law, on the release of a new line of shoes
priced at $90 a pair: "We're very committed to the category.
We're not dismayed by this; it fuels our motivation to bring
our performance up" (ORANGE COUNTY REGISTER, 2/17).
