Savier *, a Portland, Oregon *-based shoes, bags, and apparel company targeting the skateboard demographic, has announced immediate plans to discontinue its current business operations. Nike * was known to be a stakeholder in Savier and likely affected the decision.

In spite of their "innovative products and strength as an authentic skateboarding brand," Savier was reportedly not able to achieve its financial goals, and thus the management team is looking into alternatives to leverage Savier’s brand and designs.

"We founded this company with a mission to design and develop performance product to meet the needs of serious skateboarders," Savier Founder Paul Fidrych said in a press release. "Although we are small, we have created a strong connection with the skate community. We owe them tremendous thanks for their support over the last three years. We still believe in our product and our brand–our sights are set on the future and on finding the right model that will let us continue to deliver product that sets a new standard in the skateboarding market."

Reportedly, Savier’s management will work closely with its retail and distribution partners, athletes, and suppliers over the next 30 days to help ensure a smooth transition, and Savier will continue to deliver product through its summer line of orders.

Apparently the business decision affects nine Savier employees, who will be supported with "competitive severance packages and access to job-placement resources."

This article was based on the author's research and an article called "Savier goes Kaput!" in Skateboard Business at http://www.skateboarding.com/skate/ skate_biz/article/0,12364,600062,00.html .

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