CARLSBAD, Calif.--Dragon, a youth lifestyle brand specializing in sunglasses, goggles and youth accessories, has announced its split from parent company Oakley. Founder and CEO, Will Howard and general manager Aaron Behle, bought out the division last week with the backing of a private-equity fund.

Howard started Dragon in San Clemente, Calif., in 1993 and Oakley acquired a controlling interest in the brand in the mid-1990s. Today, the company has become a diverse and global brand, rooted in surf, snow and MX core/specialty distribution in over 35 countries worldwide.

“We want to thank Scott Olivet and the rest of the Oakley team for their support over the years and during this transition,” said Howard. “In two very different business plans, we collectively saw an opportunity to allow Dragon to break off and do its own thing in the marketplace.”

Dragon will retain its core assets, which includes a first tier portfolio of athletes, including Surfing World Champion Mick Fanning, Supercross Rookie of the Year Josh Hill and snowboarding legend Jamie Lynn.

“We have restructured Dragon to fully leverage a decade of brand authenticity and capitalize on what we believe is a paradigm shift in the action sports market,” added Behle. “We have a unique position with a unique plan. More importantly, we have a young and passionate team with the ability to ‘zig’ while the market ‘zags’ and enjoy ourselves along the way.”

A spokesperson for Luxottica, which acquired Oakley in 2007, has confirmed the split to VM. ■