Confirming an earlier report, the American supplier of trendy headphones for sports enthusiasts and other people says it is setting up a European sales office in Zurich that will have a staff of 13 to 15 employees by the end of this year, rising to 25 to 30 by the end of 2012.
Several key managers have been firmly recruited but it remains unclear who will head up the European office. For the time being, Skullcandy's European business is supervised from its U.S. offices by Aaron Behle, its head of international sales.
As previously reported by us, Skullcandy is taking over its distribution for many European countries from Kungsbacka 57, a distributor based in Sweden.
The company plans to raise the brand's presence in European sporting goods stores, partly through stronger marketing efforts. It has just hired Nate Morley, former vice president of marketing at DC Shoes, as its own vice president of global marketing.
The company, which recently went public, has reported net income of $952,000 for the third quarter, compared with a loss of $1,228,000 in the year-ago period.
Total revenues jumped by 58 percent to $60.6 million, thanks in part to higher average price points, with increase of 52 percent in the U.S. and 76 percent elsewhere. Outside the U.S., sales reached $14.6 million, of which $9.1 million came from Europe.