Skullcandy designs and markets high quality in-ear, over-the-ear and on-ear audio headphones featuring trend-setting and distinctive designs. Since its founding in 2003, the Company has built an authentic, lifestyle brand that has rapidly become an icon among its core base of skate, snow, surf, and music enthusiasts in the United States and internationally.
Skullcandy filled a void in the headphone market by positioning itself as a lifestyle brand representing the independently-minded “action sports” and indie music culture though grass roots and viral marketing, eye-catching package design, and a differentiated, moderately priced product offering with distinct design elements and an emphasis on ‘noise isolation’ and ‘bass.
Skullcandy was well positioned to enter adjacent product categories and continue its expansion strategy. Goode also saw the opportunity for the Company to leverage the relevant operating experience of the veteran management team in key areas such as brand management, product development, sourcing, and supply chain management.
Goode Value Add:
Goode helped to bolster the management team with new hires, including a new CFO, VP of International, VP of Marketing and VP of US Sales. Goode helped the Company increase penetration in key retails, including AT&T and Apple, nationwide. Goode also helped the management team identify and secure third party celebrity/designer collaborations.
After evaluating several alternative exit options, the Company completed a $188 million offering of stock through an initial public offering in July 2011.