SKULLCANDY MAKES ITS MARK ON TOP OF INC. 5000 LIST
Named number one in the consumer product category, Skullcandy ranks number 31 overall
(Park City, UT – September 30, 2008) – Skullcandy, a developer of core audio products, is celebrating its place at the top of Inc. Magazine’s recently released annual Inc. 5000 list – an honor roll of the 5000 fastest-growing, privately held companies throughout the U.S. Creator of the widely acclaimed Inc. 500 hotlist, Inc. Magazine selected Skullcandy as the nation’s 31st top entrepreneurial success due to the company’s impressive revenue growth of over 4,077%. Skullcandy also topped the charts as the number one company on Inc.’s list of the Top 100 Consumer Product Companies. A huge accomplishment for the five-year-old company, Skullcandy is acknowledged for its exceptional growth in the action sports space with a strong presence in the U.S. and more than 40 countries around the globe.
“Pretty damn cool if you ask me,” said Rick Alden, CEO and founder of Skullcandy. “Having Inc. rank Skullcandy with so many well-known companies makes this one of Skullcandy’s most distinguished company honors. This is a huge statement to our entire team’s hard work focused on delivering innovative, lifestyle driven, and category changing products. It has always been our drive to ‘offend the status quo.’ Nothing validates the mission more than having end consumers buy and love your product.”
The Inc. 5000 is ranked according to percentage revenue growth from 2004 through 2007. To qualify, companies must have been founded and generating revenue by the first week of 2004. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2007, with revenue in 2004 of at least $200,000, and at least $2 million in 2007.
In 2003, Alden formed Skullcandy to offer lifestyle driven, high-performance headphones to a core demographic in the action sports industry. In just five years, Skullcandy has introduced a line of more than 100 skews of headphones as well as other audio products, such as backpacks with built-in speakers and iPod accessories.
The recipe for Skullcandy's success can be directly attributed to the company’s focus on creating audio products for the action sports industry and staying true to the needs of its core customers, while also creating a strong product demand in the mainstream market. Skullcandy’s brand recognition and company strategy continues to yield tremendous results, as Skullcandy is currently experiencing its fourth year-over-year growth of more than 300 percent. This impressive achievement places Skullcandy, on the Inc. 5000 list, among an elite group that over the years has included companies such as Cold Stone Creamery, Jamba Juice, UnderArmour, Oracle and Timberland.
Until the third annual Inc. 5000 list is announced in 2009, Skullcandy’s company profile will be featured on the Inc. website (www.inc.com ) where visitors can also search the complete list of top U.S. companies. For additional information on Skullcandy or its products, visit www.skullcandy.com.
About Skullcandy, Inc
Skullcandy designs headphones, mp3 player watches, audio accessories and other audio-enabled lifestyle products, such as backpacks with built-in speakers and iPod controls. Skullcandy also collaborates with select brands to integrate its audio technology into products from snow helmets to outerwear, apparel, packs and bags. Skullcandy gear is sold worldwide through top retailers and specialty outlets. Skullcandy products can be seen on www.skullcandy.com.
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