Billabong plans for aggressive global growth

MELBOURNE, Australia — Australian clothing retailer Billabong International said it plans to continue its aggressive international expansion.

Chief Executive Derek O’Neill told Reuters the company’s sales continued at a strong pace in Europe and the United States in the second half last year, and the company is on track for 15 percent earnings growth this year.

“The fact is the availability of our product around the world is far, far less than the demand,” O’Neill said in a telephone interview from his Brisbane office. 

One of the limitations Billabong has faced is finding suitable retailers to showcase surf, skate and snow gear. That has prompted Billabong to open its own stores in Europe and the U.S., including one in New York City’s Times Square. 

“We’ll open stores as opportunities present themselves,” O’Neill said.

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