Another One Bites The Dust... So long Kuiu

[Jules Winnfield]

None of these moves are inherently fatal, but together it is the same old PE playbook: widen the customer base, grow revenue, and eventually exit at a higher multiple. The risk isn't that KUIU's hunting gear will suddenly become garbage, I think it is less obvious than that.
It's that R&D, brand, and marketing money gradually shifts toward the larger market of general workwear and lifestyle consumers, while the hardcore backcountry hunter who made KUIU what it is gets treated as a "remember those guys?" rather than the core of the brand. Look at the launch of the Carhartt-styled stuff. That is a larger audience money grab.
At that point, competitors are happy to fill the void.

 

[Carnage2011]

I don’t believe this is a typical PE situation. My understand is that this is a bunch of hunters that banded together and bought the previous PE group out. The previous group was taking things down a path that some people within the company didn’t like and felt they were degrading the product. They were able to purchase the company back from them. I don’t know how it will play out but I don’t think it’s similar to the SG buyout or any other others recently.

 

[Jules Winnfield]

I don’t believe this is a typical PE situation. My understand is that this is a bunch of hunters that banded together and bought the previous PE group out. The previous group was taking things down a path that some people within the company didn’t like and felt they were degrading the product. They were able to purchase the company back from them. I don’t know how it will play out but I don’t think it’s similar to the SG buyout or any other others recently.

Some former SIMMS guys are part of the mgmt. team for KUIU now, and KC Walsh has some $$$ stake. It won't be the KUIU of old, as the SIMMS playbook contains plenty of lifestyle pushes, retail expansion, etc. as part of the plan. At the end of the day, the core, DIY hunter (real or perceived) market is not even remotely close to what the rest of the market can offer. That will not be overlooked for the feel good ideals of "let's not change too much".

I think brands like EXO are a good example of staying true to the core mission, living the brand and not deviating. But we are all sideline spectators to what will or can happen when things get tricky, growth goals start to take steroids, and PE money becomes the fast-track to "the next big thing." I have experienced it firsthand with two brands, and it is sad to see the soul and culture bleed out.

There are more negative examples of this happening in the Outdoor/Hunt space than positives, so my cynical side is not betting we will see it become something better when compared to "the old KUIU" (or SG, MR, Sitka, SIMMS, etc.)