[Manic!]

https://jalopnik.com/hoonigan-files-for-bankruptcy-with-1-2-billion-in-debt-1851643671

So last year Hoonigan before Ken died was bought by Wheel pro's a company that has 60+ brands including Foose, TSW, etc. https://www.wheelpros.com/brands Wheel Pro's is owned by a hedge fund. After Ken died most of the OG talent at Hoonigan left. A few months back Wheel pro's changed it's name to Hoonigan.

[underscore]

I didn't even know Hoonigan was a brand lol.

[JDMDreams]

Yea, didn't know they were owned by a wheel company, gtr lighting, morimoto, all the eBay, tire rack brands.

But then what do you do after the main man dies. That's like Jeremy dying off top gear.

Wheels sales should have nothing to do with hoonigan

[Manic!]

Yea, didn't know they were owned by a wheel company, gtr lighting, morimoto, all the eBay, tire rack brands.

But then what do you do after the main man dies. That's like Jeremy dying off top gear.

Wheels sales should have nothing to do with hoonigan

It was sold before he died.

[The Producer]

It was sold before he died.

yep. most of the OG hosts have touched on it in their various other endeavors and social media

hedgies were buying up brands. turns out there's really no money in it. Same thing happened at Donut. None of the talent owned any of it.

all those guys are running their own things now. Vin's channel is really good. Donut guys are doing OK too.

I do miss the daily transmission days. looked like a lot of fun

[snowball]

Wouldn't be surprised if all those companies were private-equity looted. Look up Red Lobster's hedge fund history and be appalled.

[donk.]

The fact that any company, can be 1.2 billion in debt, without 1.2 billion in assets, is absolutely insane

minus REITs operating at 80-95% in debt cuz thats "normal"

Dont worry, taxes will bail em out

[headhunt3r]

I hate PE. It's a load of shit.

[twitchyzero]

damn, KMC and morimoto are legit too

then again bbs and recaro didn't liquidate going through similar changes

[Hondaracer]

lol what was the valuation based on? Hoodies and an instagram account?

[JDMDreams]

Amount of monster stickers

[trollface]

lol what was the valuation based on? Hoodies and an instagram account?

The market cap of stickers on Subarus and Ford Raptors like 96%

That's deep segment penetration. Every person with a pair of white sunglasses has at least 2.5 stickers per household and MONSTER drink fridge inventory turnover of just 3 days in North America.

They struggled with the Asian markets, but they did take some market share from Hellaflush and Stance Nation FY2023 Q3 according to their 10-Q filings.

[Manic!]

lol what was the valuation based on? Hoodies and an instagram account?

The Hoonigan YouTube channel had 5 plus million subs. They did a lot of deals with manufacturers and companies . Wheel pro has over 60 brands.
According to this site they have over 500 employees and annual revwof over 400 Mill a year.
https://www.apollo.io/companies/Wheel-Pros/54a11e7769702d97c1a98901

[bcrdukes]

Is Hellaflush and Stancenation still a thing? :confused:

[JDMDreams]

Rwb Liberty Walk bro

[TopsyCrett]

They struggled with the Asian markets, but they did take some market share from Hellaflush and Stance Nation FY2023 Q3 according to their 10-Q filings.

Is this sarcasm? :awwyeah:

Good joke hahahaha

[trollface]

Don't forget Speedhunters. Their Cap-ex grew 269% to create new stickers and windshield banners leveraged by AI and cloud computing. They grew sequentially in emerging markets such as black G35's in Surrey and rats ass looking early 2000's 3 series in Richmond.

Speedhunters also showed record growth in the wearables segment such as hoodies despite a difficult prior year compare fueled by Sema.

[Qmx323]

Let's not forget about their sister (or mother) company - MILFhunters

[CorneringArtist]

The hedgies that drove Hoonigan into the ground were part of the same group that bought Chelsea FC. Like the brand hoarding they did with Wheel Pros, Chelsea hoarded a bunch of players that may not even see a game in the Premier League. The CEO of the hedge fund thinks that he’s a baseball GM with that logic.

[bcrdukes]

Let's not forget about their sister (or mother) company - MILFhunters

Legit asking: I thought MILFhunters was just a meme. I didn't think it was an actual brand. Without Google'ing what this is, is it explicit content? Or something else?

[Qmx323]

Its porn lol and I don't think its built up as a brand, but its kinda just a meme that actually just got adopted into... everyday? life?