In recent times, there has been some chatter about the future of the Ex Officio brand. The rumor mill is swirling with whispers, leading many to wonder, “Is Ex Officio going out of business?”
Well, if you are one of the loyal customers of Ex Officio, chances are that you are presently wondering where this rumor came from. This is a brand that is perceived to be doing well in the industry, with no sign whatsoever that it may be leaving the market soon.
So, why are so many concerns about the brand lately? Is Ex Officio going out of business really? Let’s take a closer look at this iconic brand to find some answers!
What is Ex Officio All About?
First things first, let’s talk about what Ex Officio is all about. Perhaps that will also provide us with some clues to unraveling the daring question set before us.
This company was founded in 1987 by Rick Hemmerling and Joe Boldan. The Seattle-based company is well known for its travel and technical outdoor apparel. In fact, Ex Officio has become a household name when it comes to this type of clothing.
The brand has a unique offering that marries technology with style, creating lifestyle-specific garments that are as functional as they are trendy. Both men and women want to patronize Ex Officio because they are sure to find something they would love within a short time of shopping!
However, over the years, the brand has also gone through multiple changes, including a previous acquisition by Orvis in 2000 and then later being sold to K2 Inc. in 2004. But despite these shifts, the essence of Ex Officio has remained the same. The brand has always focused on providing quality, innovative apparel that resonates with outdoor enthusiasts.
Is Ex Officio Going Out of Business?
So, let’s address the elephant in the room. The short answer to the question is no. Looking closely at the brand, there’s no concrete evidence to suggest that Ex Officio is going out of business.
On the contrary, when K2 acquired Ex Officio back in 2004, they had big plans for the company, expecting it to double its sales volume in just three years. And this wasn’t just wishful thinking – K2’s executives were committed to maintaining the integrity of the Ex Officio brand while exploring opportunities for growth.
The brand has stayed true to its initial vision even today. So, is Ex Officio going out of business? We highly doubt that is the present situation with the brand.
Who Owned Ex Officio?
For those who may be a bit confused about the ownership of Ex Officio, here’s a quick rundown. Initially, the brand was an independent venture launched by Rick Hemmerling and Joe Boldan.
But in 2000, it was acquired by Orvis, a company known for its fishing gear and other outdoor equipment. And in 2004, K2 Inc. bought Ex Officio and made it the cornerstone of their newly-formed apparel division. So, right now, can we say the company that owns Ex Officio is K2 Inc? You might want to keep reading to find out.
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Is Ex Officio Facing Financial Challenges?
As we said already, combing through several sources and resources, there are no signs that Ex Officio is currently facing any significant financial troubles.
In fact, the acquisition by K2 came as a strategic move to propel the brand into new markets. K2 was especially excited about international expansion, targeting regions in Europe and Asia where Ex Officio had yet to make a significant impact.
Who Bought Out Ex Officio?
While this may look like a repetition of what’s already discussed here, we just have to create separate sections to address these questions individually. Why? They are questions people ask every day about Ex Officio.
So, who bought Ex Officio? K2 Inc. was the company that acquired Ex Officio in 2004 in an all-cash deal. The terms of the transaction were not disclosed, but K2 reported that they expected the acquisition to be “neutral per share in 2004, but accretive in 2005.”
In simpler terms, they expected the deal to start adding value to their shares starting in 2005.
Today, Ex Officio appears to be owned by Newell Brands, a company that owns a portfolio of other high-profile brands, such as Marmot, Coleman, and Campingaz. This suggests that Ex Officio is in good company and still very much a part of the business landscape.
So, Is Ex Officio Going Out of Business – Final Note
The information we’ve gathered suggests that this is unlikely. From its strong roots in quality and innovation to its strategic acquisitions aimed at growth, Ex Officio seems to be a brand that is not just surviving but potentially thriving.
While the business landscape can always change, there’s no evidence at this time to suggest that Ex Officio is on the brink of shutting down.
If you’re an avid fan or a first-time shopper considering Ex Officio for your next outdoor adventure, it looks like the brand is here to stay. And that’s good news for everyone who values top-notch, functional apparel for their wanderlust-filled journeys.
So there you have it – the truth behind the speculation. Now you can shop for your Ex Officio gear with a bit more peace of mind, knowing that the company is far from waving a white flag.
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