Who bought out Rip Curl?
Rip curl (the “company”) has been acquired by kathmandu in a $350 million deal. Iconic australian surf brand rip curl has been acquired by new zealand specialist outdoor retailer kathmandu in a $350 million deal, following years of sale attempts by the company’s founders. Rip curl was founded in 1969 in torquay, victoria, by surfers-turned-business owners brian singer and doug warbrick.These humble beginnings laid the foundation for an entire industry. In the eighties and nineties, the big surf brands dominated, opening stores in malls on every continent. Quiksilver, Rip Curl, and Billabong became household names.While the company started in 1969 as outlined previously, the name Rip Curl actually came about in 1967.The name ‘Rip Curl’ was taken from a vee-bottom surfboard that Doug bought in 1968, on which he’d written “Rip Curl Hot Dog. The words didn’t mean anything, he later admitted, “Except ripping was groovy; surfing the curl was groovy; we wanted to be groovy — so that was it.Now designing, producing, and distributing a variety of innovative products in more than 60 countries worldwide, Rip Curl takes pride in our world-class roster of surfers and the simple objective to Live The Search.
Who is CEO of Rip Curl?
Ashley Reade is Rip Curl’s new CEO. Reade spent the past eight years as VP and GM of Nike’s Asia Pacific operations. The recent $350 million sale of surfing icon Rip Curl to New Zealand outdoor clothing and accessories retailer Kathmandu marks the end of an era, with the big three pioneering Aussie surf brands (Rip Curl, Quiksilver and Billabong), all founded around the same time, now in the hands of international owners.After 20 years with nike, seasoned executive ashley reade has been named the new ceo of aussie surf brand rip curl.In October 2019, Rip Curl was sold to outdoor specialist company Kathmandu. On 16 August 2021, Rip Curl appointed Brooke Farris as the chief executive officer.In October 2019, Kathmandu announced it would buy 100% of Australian surf brand Rip Curl for A$350m. In March 2022, Kathmandu Holdings was rebranded KMD Brands.The business of surfing The Big Three — Rip Curl, Quiksilver, and Billabong — are now owned offshore. The $350 million sale of Rip Curl to Kathmandu was the final nail in the coffin of Aussie surf brand independence. Big logos are out.