Well-recognized life-style brands; Diverse geographic distribution; and Revenue and operational momentum. Highly competitive industry; Fashion risk; fickle end-consumer; Narrow business focus; and Integration risk related to acquisition of Rossignol. The ratings on Huntington Beach, Calif.-based global lifestyle apparel marketer and designer Quiksilver Inc. reflect its participation in a highly competitive and very promotional retail environment, its relatively narrow niche focus, the fashion risk inherent in its target market, and the integration risk related to its July 31, 2005, acquisition of Rossignol, which produces winter equipment and hard goods and operates primarily in Europe. The ratings also incorporate Quiksilver's diverse geographic distribution points, its portfolio of well-recognized lifestyle brands with a loyal following, its success at building a lifestyle brand with
