El Segreto del Mar has gone into liquidation. The Spanish company had been performing very well in the past decade as the parent of the El Niño, which it had built into a major local surf and action sports label. The company was founded in 2002 by Javier Guerra, a former Spanish manager for New Balance and Skechers, and by a friend, Antonio Costas; Guerra ran the company more or less directly until 2009, when he quit the private sector for a political job. Tirant, a Spanish equity firm that had invested in Kelme, acquired a stake in El Segreto del Mar a few years ago.

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