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, a producer of winter equipment and hard goods that 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 universal appeal from the grassroots level, and its expansion into international and noncore businesses. Quiksilver designs and markets young mens' and womens' casual surf lifestyle apparel, including boardshorts,
