Crazy Shirts: The first 40 years
Advertiser Staff
1961
Rick Ralston and his friend "Crazy Arab" airbrushed towels on the sidewalks of Catalina Island off the California coast. Ralston practiced his craft on a T-shirt and wore it around. After a tourist bought it literally off his back, he gave up airbrushing towels and switched to T-shirts.
1962
Ralston arrived in Hawai'i for a summer vacation and, airbrush in hand, painted designs on blank T-shirts. Tourists stood in line as he painted in Waikiki.
1964
Ralston opened his first store, Ricky's Crazy Shirts, in vacant shop space in the International Market Place. The
T-shirts depicted hot rods, monsters and bogus logos. Shirts sold for $1.95 to $6.
1968
The company moved to a factory on Nimitz Highway. With 10,000 square feet, it housed the administration and production facilities for 12 years.
1970
The first of four stores opened in Ala Moana Center on the mauka side near Sera's. The store featured stained-glass lamps, old gilded cash registers and dark wood accents. Annual sales were $500,000.
1971
Sales hit $1 million.
1972
The first Crazy Shirts store opened on the Mainland in El Cajon, Calif.
1977
Sales passed $5 million.
1981
The Mainland Co. was established in Southern California as a sister company to Crazy Shirts Inc.
1982
The present administrative headquarters was built in Halawa Valley, with 46,000 square feet under roof, natural cedar, concrete lamp posts from 1928, and other antiques.
1986
Ralston was named retailer of the year by Retail Merchants of Hawai'i. The company opened its first store in Colorado ski country.
1988
Sales exceeded $10 million. Crazy Shirts employed 650 people in 37 stores and two factories.
1992
The number of Mainland stores grew to 23, including one at Walt Disney World in Orlando, Fla.
1994
Crazy Shirts bought the 'Aiea Sugar Mill for $19 million. Sales were around $90 million.
1995
A joint-venture partnership was formed with The Daiei Inc. and Marubeni Corp. to operate specialty stores in Japan called American Market Place, selling Crazy Shirts products.
1997
The third Crazy Shirts shop on Guam opened at Tumon Bay. Other stores opened on Fifth Avenue and at Times Square in New York, as well as in Florida. Headquarters and factory moved to California, resulting in 140 layoffs.
1998
Recession in Japan contributed to Crazy Shirts' worst year ever. The company hired the Scottland Group, a Los Angeles-based turnaround consultant, and was forced to restructure short-term debt and close stores.
1999
Crazy Shirts lost money on sales of $55 million. The number of stores went down to 42, from 54 in 1998. President Randy Yeager left the company and was replaced by former Danskin executive Bill Almon. At lender urging, the company appointed a new outside board of directors.
2000
The company remained in the red. Yeager returned to the company as president. The board of directors was replaced by a new board, including co-chairmen Yeager and Ralston.
2001
Crazy Shirts hires an investment banking firm to explore options for raising capital. Selling the company is not ruled out. Another round of restructuring is implemented. A return to profits is projected.
