Baldock leaves RCG for 'next chapter'
Close to the billion, Baldock leaves RCG for next chapter
Executive director Ted Baldock is drawing a line under seven years and an “amazing journey” at RCG Brands to move on to what he says will be the next chapter.
In a note to staff, he has announced his intention to leave at the end of January, a decision he says came after a break with family and friends gave him the chance to think about his professional and personal life and a career spanning 40 years.
“Being a part of the WWW team with Merrell for 19 years and now with CAT, Saucony and Sperry, I will always treasure the friendships I have forged with many of these teams,” he says. “From where we began the RCG journey on January 4, 2010 with only a vision and the trust, support and amazing friendship, what we have achieved is nothing short of a fairy-tale and should never be taken for granted.
“Personally it's been a pleasure and privilege to be a small part of what RCG Corporation has now developed into. I'm extremely proud to have been playing on this team and personally thank each and every one of you for your support.”
Taking over the reins will be Hamish Allison, currently general manager of Merrell. He had worked with Baldock at Pacific Brands – after a stint as a sales representative at NZ-based Brittain Wynyard – and followed the Merrell brand to RCG in 2010. “Hamish and I have worked closely for nearly ten years so I totally believe this will be one of the best decisions management could have made,” he says.
Baldock tells staff it is up to them “to continue this amazing journey and crack through that $1 billion market capitalisation, and become the dominant player in our industry.
“You all know I don't deal well with silver or bronze medals, second and third will never cut it with me.”
Looking back over seven years of “nothing but the best memories”, he says he worked with “some of the smartest, committed and dedicated people I have ever met”.
Baldock and his team took outdoor footwear brand Merrell from a market capitalisation of $70 million at Pacific Brands to a position in the ASX top 200 and current market cap of more than $900 million, adding the wholesale business along the way.
Last July the addition of 57 Hype DC and three Shubar retail stores added group sales of around $120 million.
Baldock is a byword in the sports industry for his enthusiasm and experience in building brands, with 27 years in partnership with elder brother Cyril – also well known for his achievements as a cross Channel swimmer – when the pair built their swimwear brand Spank into a major player, and launched footwear brands LA Gear, Merrell and Saucony into Australia.
He headed a division of Pacific Brands with Merrell, before moving with it RCG, which currently includes retail chains The Athletes Foot, Podium Sports and Platypus, plus own brand stores for several of the major footwear brands in the stable including Sketchers, Doc Martens, Vans and Timberland, Palladium and Stance, popular running brand Saucony and sailing-and-lifestyle brand Sperry, Merrell and Caterpillar.
In a personal note to Sportslink, he thanks managing editor Maggie Coleman for “wonderful support over many many years: “You better than most have followed the Ted Baldock journey which is now coming to a close. Thanks for everything!”