Rip Curl Founders Sell Business To Kathmandu

Swellnet Dispatch

Rip Curl Founders Brian Singer and Doug “Claw” Warbrick have sold their iconic Australian surf brand to Australia and New Zealand based outdoor specialists Kathmandu.

The acquisition of Rip Curl by Kathmandu creates a $1 billion dollar Australasian based surfing and outdoor adventure lifestyle company, offering a technical based product mix to their combined customer base across wholesale and direct to consumer retail channels.

“There are strong parallels with both Rip Curl and Kathmandu. Both companies thrive on creating high quality, functional products for outdoor enthusiasts, surfers and beach goers around the world. Both  brands are also from the same part of the world – Australia and New Zealand. Bringing them together will build on our respective strengths across product, marketing and distribution channels,” said Rip Curl Group CEO Michael Daly who is excited about the potential in the merger. “It will be a new world  for all of us after 50 years of private ownership, and our entire Crew would like to thank the Rip Curl Founders for everything they have done for surfing over the years,” he continued. “Professionally, my team and I are excited by the opportunities that this will create and we look forward to joining Kathmandu and retaining our Vision of being regarded as the ultimate surfing company in all that we do.”

It is intended that the brands continue to run independently and look to capitalise on the obvious benefits in the merger; combining expertise to provide great brand and product experiences for customers who share a common love of the outdoor adventure and surfing lifestyle.

Thrilled with the acquisition, Kathmandu’s CEO Xavier Simonet said “Rip Curl transforms Kathmandu into a highly complementary, seasonally balanced, global outdoor and action sports business. The combination will support the acceleration of our brands’ global expansion into new channels and markets. Sharing a focus on quality, innovation and sustainability, Kathmandu and Rip Curl make for a great cultural fit.”

Founded in 1969 and still headquartered in Torquay, Victoria - Rip Curl celebrates its 50th anniversary this year at a time when surfing and the surf market is on the rise again. The Founders are confident Kathmandu is a good home for their much loved brand and Rip Curl crew. There is not much the pair, alongside European Founder Francois Payot, have not achieved on the beaches of the world inspiring world surfing champions like Tom Curren, Damien Hardman, Mick Fanning, Gabriel Medina and Tyler Wright along the way.

The Founders said “After 50 years it’s an emotional event for us. Surfing and the surf  industry has been  an integral part of our lives for more than 50 years. We realise, Rip Curl, our baby has grown into an adult recognised all over the planet and we are proud that we have created one of the  world’s great  brands. We are confident the crew at Rip Curl will continue to look after the brand and products into the future. We look forward to supporting the crew on this journey”.

Comments

hillsintas's picture
hillsintas's picture
hillsintas commented Tuesday, 1 Oct 2019 at 6:32am

Well, Well, Well...............

Bring back Golden Breed?

OHV500's picture
OHV500's picture
OHV500 commented Tuesday, 1 Oct 2019 at 8:16am

It did make a come back. Very, very badly :(

truebluebasher's picture
truebluebasher's picture
truebluebasher commented Wednesday, 2 Oct 2019 at 12:46pm

Goldie 70's gromz (Surf/Skate uniform) Rip Curl Vest (Spring suits were for chix only) + Hot Tuna Boardies + Tennis visor (Back 2 Front) + No Shirt + Canvas web Thongs worn on hands for bare foot skaterz ...[Strictly no Sunnies]-Sunnies were for Pervs/ Cops/ Wogz/ Brisos/ Rubberneckerz/ Touros/ Whiteshoes) + [Strictly no Cameras]...see Brisos/ Rubberneckerz/ Touros + Up themselves, big headed wankerz. (Unisex Surf Flix gear) Golden Breed Sloppy Joe + Sharks Tooth or tusk or glow in the dark divers watch with velcro band full of sand + Jockette undies + Draw String Cheese Cloth pants +UGGS.

Golen Breed (Stores) moved in into Noosa / Byron / Goldie around 2010.Setting up full on local surf shops with whole deal ...One stop supplies..repair, buy, hire, sell, custom-brands + Surf Museums & Tour displays were fully endorsed by surfing's greatest to support Noosa / Byron surf festivals usually sponsored by Golden Breed.
Here on Goldie...1970's icons Rocky nodded the Spastic Fair Store
https://www.facebook.com/pages/Golden-Breed/816246631837299
Occy + Bugz & crew rock the Cooly Store checking out Shaun Tomson board.
https://www.facebook.com/pages/Golden-Breed-Coolangatta/867129113426954
There is also the Kombi Van is Surfers Paradise store + A moke in another (Maybe in closed Pac Fair). The Teez salute iconic local breaks...Noosa, Surfers Paradise, Byron (I believe the biggest GB head store is in Flinders Vic) Noosa store was iconic Oz Surf Store (Legendary).
https://lexisnoosa.com/wp-content/uploads/2011/07/golden-breed-logo-1.jpg
https://noosatoday.com.au/news/28-01-2019/golden-breed-wiped-out/

Bonus spaced-out Peter Ledger Poster Gallery!
https://cdn.shopify.com/s/files/1/2575/8088/files/the_golden_breed_story...

[Disclaimer] tbb hasn't purchased surf product in decades.(Read Nostalgia-less Ad)

OHV500's picture
OHV500's picture
OHV500 commented Friday, 4 Oct 2019 at 2:28pm

Theres the old Balin shop in Vicco, Flinders, which has golden breed. Just small but maybe going back to the roots - hopefully :))

belly's picture
belly's picture
belly commented Tuesday, 1 Oct 2019 at 6:45am

Interesting - "seasonally balanced" gotta love marketing. Kathmandu despite some hard core outdoor/snow knockers seem to know what they're doing. Have a Kathmandu shell jacket that's still going strong after 15 years.

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:10pm

Yeah I got a puffer to go to NY a few years ago. Good quality better than my RC wettie which was lucky to last 2 winter seasons. Moved over to Quicksilver and still going strong in 3rd Vic winter season.

haggis's picture
haggis's picture
haggis commented Wednesday, 2 Oct 2019 at 7:25am

Which quiksilver wettie did you get memlasurf? I always get the 5/3 ripcurl chestzip flashbomb but it’s getting pretty expensive to buy so frequently - like you every two seasons. I fleeted with the idea of needs essentials. But even though heaps of people recommend them I still haven’t wanted to get one. Here in tassie you need a good winter suit.

garyg1412's picture
garyg1412's picture
garyg1412 commented Wednesday, 2 Oct 2019 at 7:44am

Haggis if you have the cash get yourself an Isurus 4/3 hooded suit. I'm into my 4th season with mine now and it handles anything Tassie can throw at it. Luckily I got mine when the exchange rate was a bit healthier but they are still worth the price tag.

memlasurf's picture
memlasurf's picture
memlasurf commented Wednesday, 2 Oct 2019 at 10:14am

Was the previous model of this and was called AG47or something. Got it cheap from the Quicky web site as they were clearing them. Awesome suit but pricey if not on sale. MENS HIGHLINE PLUS 4/3MM CHEST ZIP STEAMER WETSUIT. No water gets in and warm as toast. I think Victoria is on par with Tassie for winter water temps. Summer gets past 20º but winter hovers around 13º.

benjis babe's picture
benjis babe's picture
benjis babe commented Tuesday, 1 Oct 2019 at 6:50am

wait and see.. love our mates across the ditch. hope this works well for rip curl

benjis babe's picture
benjis babe's picture
benjis babe commented Tuesday, 1 Oct 2019 at 6:54am

thank god they didn't sell to a fashion brand

icandig's picture
icandig's picture
icandig commented Tuesday, 1 Oct 2019 at 3:30pm

So Rip Curl isn't a fashion brand? I've got a few T-Shirts that might prove otherwise. Likewise Kathmandu.

benjis babe's picture
benjis babe's picture
benjis babe commented Tuesday, 1 Oct 2019 at 5:11pm

wow icandig you have a few t-shirts. congrats..... you really have no idea what my comment implied.

icandig's picture
icandig's picture
icandig commented Tuesday, 1 Oct 2019 at 5:57pm

Perhaps you're right - maybe I misread your intent. But whether they sell wetsuits or backpacks; lets be real - they are both fashion brands.

Craig's picture
Craig's picture
Craig commented Tuesday, 1 Oct 2019 at 7:18am

$350M according to the SMH.. 

"The transaction will be financed through a combination of a fully underwritten 1 for 4 pro-rata accelerated entitlement offer to raise NZ$145 million ($90.80 million) and a placement of about NZ$32 million of new Kathmandu shares to the founders and chief executive of Rip Curl, who will receive a part of the consideration in Kathmandu shares."

https://www.smh.com.au/business/companies/rip-curl-sold-to-kathmandu-in-350m-deal-20191001-p52wfg.html

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:11pm

Craig this is worse than Greek me. Can you decipher?

Craig's picture
Craig's picture
Craig commented Tuesday, 1 Oct 2019 at 2:25pm

Ha, ah yes, explained more here..

"The rest of the transaction will be funded through a $138 million capital raise and a new $220 million debt facility. Kathmandu shareholders will be able to participate in the capital raise on a 1-for-4 share basis, and all the company's directors are intending to participate in the offer."

So capital raising of $138M and loan of $220 to buy RC.

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:37pm

Thanks. Wow so they are borrowing a big wack to get it and those involved get 4 shares of Kathmandu for 1 RC. I wonder how healthy Kathmandu are with another $220 million added in debt? I am having trouble borrowing money and I only want $70k and I own just about everything and have a business that is paying its way. How the world works aye.

kahoona's picture
kahoona's picture
kahoona commented Tuesday, 1 Oct 2019 at 4:16pm

Big number I certainly wouldn't say no to but seems cheap for a global brand like RC. I guess the multiplier on traditional businesses is not what we have become used to seeing with all the tech acquisitions of late.

Kahoona

Bustard's picture
Bustard's picture
Bustard commented Tuesday, 1 Oct 2019 at 4:34pm

Unless I'm mistaken...which I quite possibly could be..the capital raising will come via a dilution of existing Katmandhu shares offered to existing shareholders...being...buy 1...get 4 katmandu shares. This makes it attractive enough for exisitng share holders to kick the tin, ie generate the capital to purchase RC - RC woud not be listed on the exchange as a seperate entity...Theres a bit of shert term pain / risk in that once the deal is done the share price will typically fall to represent somewhere near the total market Cap that now exists due to all these new shares in the market.

and there is good debt...and bad debt...every business with a solid balance sheet has debt ...in fact it is common to suggest that a business that has no debt is not working their balance sheet hard enough

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 4:39pm

Shit that's me I hate debt but I have it. And here is me thinking I am a bad businessman!

Bustard's picture
Bustard's picture
Bustard commented Tuesday, 1 Oct 2019 at 4:48pm

ha ha !!
Good Debt = Buy the worst house in the best street at the bottom of the cycle and paying interest only and wait for the market to kick

Bad Debt = borrowing 20k to fly your girlfriend who is 10 years younger than you to Thailand for breast enhancement surgey

Craig's picture
Craig's picture
Craig commented Tuesday, 1 Oct 2019 at 6:29pm

Thanks for the input and also Wingnut!

wingnut2443's picture
wingnut2443's picture
wingnut2443 commented Tuesday, 1 Oct 2019 at 5:32pm

Quick maths ... Purchase is at 7x EBIT... So, net profit $50m.

$220m debt at say 4% pa = $8.8m

So, net profit after interest is now say $41.2m

So on the share equity, of $138m, you get a ROI of 29.85%

Why wouldn't they want debt funding the deal?

Surfboard Design and Construction Kook. Evidence is here: www.ffwsurfboards.com.au
*FFW - Few Fun Waves ... that's what it's all about for me.

OHV500's picture
OHV500's picture
OHV500 commented Tuesday, 1 Oct 2019 at 8:15am

Thats it - the end of an iconic brand. Personally I can't see this doing anything good for the 'brand' at all. Totally different marketing strategies. One thing it may do is empty out some of the 'dead wood' at RipCurl.
So are there any surf brands - big brands - actually owned by people that surf ?

matt59's picture
matt59's picture
matt59 commented Tuesday, 1 Oct 2019 at 6:31pm

Oh, yeh, just start one up tomorrow.....not easy.

OHV500's picture
OHV500's picture
OHV500 commented Wednesday, 2 Oct 2019 at 5:22pm

Ummmm - it was a question.

matt59's picture
matt59's picture
matt59 commented Wednesday, 2 Oct 2019 at 5:49pm

Yeh...for some reason the comment got me ticking...I missed the mark.

OHV500's picture
OHV500's picture
OHV500 commented Wednesday, 2 Oct 2019 at 6:05pm

All good :) I think all the big brands are owned by non-surf organisations now.

stunet's picture
stunet's picture
stunet commented Friday, 4 Oct 2019 at 2:22pm

Not sure if you call 'em big, but I sat down and rolled tape with Brian Cregan from Ocean & Earth yesterday. Had a great chat about O&E history, state of the industry, etc etc. 

Over the years he was approached by two of the Big Three to sell up O&E but resisted each time.

Would've loved to stay longer but he wanted to get down for a surf.

Results of the convo up on Swellnet next week.

udo's picture
udo's picture
udo commented Friday, 4 Oct 2019 at 2:31pm

Good onya for not selling out Gecko
Shit mention of your name flashed me back to your Hawaii days....afternoon naps...you drift off and Rabbit and Critta Byrne would close the windows turn the heating up to high....go for a surf leaving you to roast...fuckers..

# Ollie Dousset #
You are my Hero son

OHV500's picture
OHV500's picture
OHV500 commented Friday, 4 Oct 2019 at 2:31pm

Thanks Stu: Should be a good read.
Another small/not so small - Balin. Still owned by the original guy - nice bloke :))

wingnut2443's picture
wingnut2443's picture
wingnut2443 commented Tuesday, 1 Oct 2019 at 8:42am

Worth a read of the Kathmandu ASX announcements:

https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCod...

Couple of things I've noted:

- Deal is conditional on approval of Kathmandu shareholders at a special meeting to be held 18 October.
- Deal is conditional upon obtaining finance.
- Sing Ding and Claw plus CEO are getting $35m of shares in Kathmandu as part of the deal.
- There are 22 shareholders of Rip Curl, 85% of which are owned or controlled by Sing Ding or Claw. Who are the other 15%?
- Deal is based on 7x EBIDTA, so RC profit before interest, depreciation, tax etc is around $50m.

The 'transaction summary' PDF in the announcements list is worth read.

Surfboard Design and Construction Kook. Evidence is here: www.ffwsurfboards.com.au
*FFW - Few Fun Waves ... that's what it's all about for me.

Giovanni's picture
Giovanni's picture
Giovanni commented Tuesday, 1 Oct 2019 at 12:22pm

The other 15%? Family and top of their corporate food chain likely.

wingnut2443's picture
wingnut2443's picture
wingnut2443 commented Tuesday, 1 Oct 2019 at 1:57pm

85% includes family and entities connected with Sing n Claw.

Surfboard Design and Construction Kook. Evidence is here: www.ffwsurfboards.com.au
*FFW - Few Fun Waves ... that's what it's all about for me.

thermalben's picture
thermalben's picture
thermalben commented Tuesday, 1 Oct 2019 at 2:05pm

One shareholder was former Rip Curl Chairman (and Australia Post boss) Ahmed Fahour. He stepped down in March 2014 and sold most of his shares shortly afterwards.

https://www.smh.com.au/business/australia-post-head-ahmed-fahour-calls-t...
​​​​​​​https://www.smh.com.au/business/companies/ahmed-fahour-offloads-large-ri...

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:13pm

If you have a head for this stuff. My eyes roll over.

warddy's picture
warddy's picture
warddy commented Tuesday, 1 Oct 2019 at 8:54am

I’ve been wearing Rip Curl Wetties since a Grom in 73 , could I have 50k
please Singo in loyalty dollars ?

Robin Masters's picture
Robin Masters's picture
Robin Masters commented Tuesday, 1 Oct 2019 at 9:04am

I wonder if the Rip Curl name will be around in 10 years?

Westofthelake's picture
Westofthelake's picture
Westofthelake commented Tuesday, 1 Oct 2019 at 9:17am

Rip Mandu?

nolocal's picture
nolocal's picture
nolocal commented Tuesday, 1 Oct 2019 at 9:24am

or Kath's curl?

Giovanni's picture
Giovanni's picture
Giovanni commented Tuesday, 1 Oct 2019 at 12:23pm

lol... 'Mud'?

matt59's picture
matt59's picture
matt59 commented Tuesday, 1 Oct 2019 at 6:39pm

would back the name hanging in there for longer than that.
For a number of reasons and the fact that it is such a catchy name.

yorkessurfer's picture
yorkessurfer's picture
yorkessurfer commented Tuesday, 1 Oct 2019 at 10:14am

Hopefully Kathmandu can improve the quality of Rip Curl products which have really gone downhill over the last several years. Most of what I have bought from Rip Curl in recent times has been crap.

•Legrope: had to bin it in less then a year.
•Deckgrip: started peeling off within a year.
•Tee shirts: quality of Target but you pay $8 for a tee shirt at Target.
•Thongs: they squeak loudly when I walk. Might sound trivial but it shits me.

Most annoying:
•My beloved Rip Curl Ultimate II Titanium Tide watch that was a 40th birthday present from my family is now a paper weight in my draw. I sent it to Rip Curl late last year for repairs after I assumed the battery had failed. The watch case is immaculate and has never been dropped or damaged.
They said it needs parts that they cant supply so is unrepairable.
I was quite happy to pay for any repairs, I wasn’t expecting a warranty repair. They said it can’t be fixed? This watch cost $1000?

Rip Curl have lost me as a customer but I have some Kathmandu boots, clothes and jackets that are top quality and are worth the higher price.

I hope they can save Rip Curl before the brand is lost as another producer of low quality products with a label stuck on them?

YoungOne's picture
YoungOne's picture
YoungOne commented Tuesday, 1 Oct 2019 at 11:51am

I hear you, yorkesurfer - they've (i.e. Rip Curl) definitely let things slip. Specifically, I also was very let down by their watch support. I had one of their pinless, marine grade stainless steel tide watches (a rare quality product) which I foolishly sent to them every time it needed a battery replacement (thinking they'd do the best job, as it's their own product). They messed up the re-sealing, which meant water ingress at the next use. I sent it back to them and they said there's nothing they can do to fix it, as they don't have the parts anymore, nor could they replace it, as they don't sell those anymore. This was a great example of an extremely durable and long-lasting product going to waste because of ineptitude and lack of concern for the customer's experience. I felt completely let down, and as a consequence from that moment forth I ceased buying any of their products. (For decades, I wore their wetsuits, but have moved to Patagonia). I also have a problem with their lack of concern for using recycled/upcycled materials. They're far behind the leaders in this regard.
Kathmandu - on the other hand - has always been reliable. I still have and use a Gore-Tex alpine jacket and ski pants that I bought in 1998. They remain in great condition, despite much use every winter season.
Let's hope the good that comes from this merger is in the form of a commitment to using durable, environmentally-considerate materials and manufacturing techniques, so that their products last whilst significantly reducing adverse impact on the environment.

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:14pm

They should just replace it. Did you go to consumer affairs?

radiationrules's picture
radiationrules's picture
radiationrules commented Tuesday, 1 Oct 2019 at 10:23am

i hope they use their new found synergy's to produce 'high-tech wet suits' (Rip Curl are "market leaders")...that lasts more than 2 winters?

velocityjohnno's picture
velocityjohnno's picture
velocityjohnno commented Tuesday, 1 Oct 2019 at 12:32pm

Use them a lot and find the Dawn Patrols stand the test of time and abuse the best. Can be leak free and in one piece years later
Old tech

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:17pm

Yep rubbish. I moved to Quicksilver and still no leaks and warm after 3 seasons in Vic couldn't recommend them more highly. Those E bombs are shite they just fall apart and are cold and leak when new.

sandcrab's picture
sandcrab's picture
sandcrab commented Saturday, 5 Oct 2019 at 10:59am

Why does the neck velcro on my ripcurl springy shred its own stitching and anything else it contacts?

Blowin's picture
Blowin's picture
Blowin commented Tuesday, 1 Oct 2019 at 10:42am

Jan Cameron ain’t short of a dollar.

She bought into Bellamy’s milk when it was $1 per share in 2014. Now it’s got a take over offer of $13.85/ share. She turned $22M into $300M !

That’s a free surf brand!

https://www.smh.com.au/business/companies/australian-politics-kathmandu-...

thedrip's picture
thedrip's picture
thedrip commented Tuesday, 1 Oct 2019 at 11:01am

Rip and curl wetsuits is accurate. For a few years I kept getting “bargain” end of season Rip Curl steamers. After a bunch of problems across three wetties, including falling apart at the seams and zips failing within 12 months, I have returned to getting O’Neal at top dollar and having them last three or four years. The take over couldn’t possibly make quality any worse in my opinion and may even help.

the-u-turn's picture
the-u-turn's picture
the-u-turn commented Tuesday, 1 Oct 2019 at 11:16am

Well, it's to be expected. Claw & Sing Ding have wanted out for a long time, and fair enough. Running your own show is damn hard and they've been at it for 50 years.

As to 'other' shareholders as raised by Wingnut I think you may find that a number of Trusts are other shareholders, or I could suggest, legacy deals that may go back years.

As to the Brand? We've all moved on and people are looking for different things. Can I mention (and I have no interest here as a declaration) two great NZ Companies: Icebreaker & Swanndri. Icebreaker for all your sporting needs and Swanndri for a little more formal. I've had zero issues with the products and find them well made.

Rip, Quik, Bill - everyone's left the building (& Golden Breed left honks ago).

The U Turn
...a little Aloha goes a long way.

Giovanni's picture
Giovanni's picture
Giovanni commented Tuesday, 1 Oct 2019 at 12:30pm

Here's a 'brand.' Need Essentials.

Robin Masters's picture
Robin Masters's picture
Robin Masters commented Tuesday, 1 Oct 2019 at 3:20pm

Yep. Good stuff. So are Arzen. Quality wetsuits and a fair price

NDC's picture
NDC's picture
NDC commented Tuesday, 1 Oct 2019 at 5:23pm

+ 1 for icebreaker - live in it, pricey but worth it int he end I've found to date

fishnsurf's picture
fishnsurf's picture
fishnsurf commented Tuesday, 1 Oct 2019 at 11:41am

I think Rip Curl make the best Wet suits. Especially my new long sleeve vest . Its so warm.

Surf ingredients

surfstarved's picture
surfstarved's picture
surfstarved commented Tuesday, 1 Oct 2019 at 11:46am

Given Derek Hynd's contribution to RC (coming up with The Search etc.), perhaps they could sling a few dollars his way to help him out. Christ knows he's dealing a few issues at the moment...

Don't let the bastards grind you down

Giovanni's picture
Giovanni's picture
Giovanni commented Tuesday, 1 Oct 2019 at 12:26pm

'Struth. Wondering if either of the 'Founders' have a history of philanthropy?

Blowin's picture
Blowin's picture
Blowin commented Tuesday, 1 Oct 2019 at 1:02pm

I couldn’t have more sympathy for Derek Hynd’s recent troubles and this is in no way a personal attack but.....I’ve never got my head around the huge deal made of the Search concept.

They had the most respected surfer in the world and he’s just quit the tour cause the waves were so shit. It doesn’t seem to be too great a reach to just film him in good waves away from the crowds. It’s the dream of every single surfer on Earth and was the basis for years of surf media before and during the existence of comp surfing .

Why the erections over this “novel” concept ? Did no one at Rip Curl watch Endless Summer etc etc or ever go on a trip without a contest at the end ?

Seems to me that the entire revelation of the Search concept - that there was more to surfing than contests - was about as straightforward as realising that beautiful girls are good for more than just cooking and cleaning.

Not what I’d consider a great leap of insight or imagination.

velocityjohnno's picture
velocityjohnno's picture
velocityjohnno commented Tuesday, 1 Oct 2019 at 1:12pm

You have to read The Search as portrayed in the Gonad Man comics to truly understand it

bongsalot's picture
bongsalot's picture
bongsalot commented Tuesday, 1 Oct 2019 at 11:54am

kathmandu, seller of the puffer jacket, the must have accessory for every soceer mom, hockey mom, netball mom any sport mom in the entire country..go to a kids sport function and count them..its amazing..just dont stand near a fire with 'em..hehe

velocityjohnno's picture
velocityjohnno's picture
velocityjohnno commented Tuesday, 1 Oct 2019 at 12:35pm

Dad had a styling one in the early 80's to compliment his magnificent red beard, it will cycle out of fashion once more...

Blowin's picture
Blowin's picture
Blowin commented Tuesday, 1 Oct 2019 at 1:03pm

I don’t care what they pair with their yoga pants.

memlasurf's picture
memlasurf's picture
memlasurf commented Tuesday, 1 Oct 2019 at 2:43pm

Mum not mom unless you are from Trumps own country. I am being a pain the arse because I really despise USA isms. Dude, mom, soccerrrrrrrr, they are never ending. What is wrong with mate, mum and wog ball?

tango's picture
tango's picture
tango commented Wednesday, 2 Oct 2019 at 4:56pm

+1....except for the wog ball...

when the kids call 'em a cookie I hit the roof. Nicely.

memlasurf's picture
memlasurf's picture
memlasurf commented Wednesday, 2 Oct 2019 at 5:22pm

My wog and pommy mates get in a knot about that one as well. Love winding them up as they love their 'Football', they can't cope with soccer let along 'wog ball'. However after the recent AFL granny I think soccer is almost scintillating as iIt was an absolute Barry Crocker and you reckon I received some stick back from the chaps!

tango's picture
tango's picture
tango commented Thursday, 3 Oct 2019 at 10:48pm

And the surf was shite to boot. But uncrowded.

Giovanni's picture
Giovanni's picture
Giovanni commented Tuesday, 1 Oct 2019 at 12:28pm

“There are strong parallels with both Rip Curl and Kathmandu..." True, they both lost touch ages ago.

velocityjohnno's picture
velocityjohnno's picture
velocityjohnno commented Tuesday, 1 Oct 2019 at 12:36pm

Anyway, my hopes for a triple surf merger to create 'RipQuikBong' are now dashed.

Otherwise, this could be a really good match, go with the Kathmandu notion of quality equipment, keep the Rip Curl innovation aspect in things like wetties.

wingnut2443's picture
wingnut2443's picture
wingnut2443 commented Tuesday, 1 Oct 2019 at 1:54pm

Yeah, maybe, maybe not.

Wasn't it to be QuikRipaBong?

So, now, likely as QuikRipaBongKath?

Surfboard Design and Construction Kook. Evidence is here: www.ffwsurfboards.com.au
*FFW - Few Fun Waves ... that's what it's all about for me.

sanded's picture
sanded's picture
sanded commented Tuesday, 1 Oct 2019 at 5:12pm

Worked for them for 8 years, (started in 2007) first 2 years was awesome, (the big 3 was strong sorta) Surf retail was still ok money coming, and innovation was looked in at in every dept (with budgets innovation included). We even got the occasional long lunchtime surf in.. and the boys were getting ready to float it on the sharemarket... then 2009 (GFC took a year to hit the big 3) happened Billy lost its sh#t, Quik was looking shaky and in Rippy every cost was looked at, Every product manager was challenged to find a cheaper way, budgets reduced staff reduced the only depts that were immune from it was Wetsuits and Marketing... hence why there was a quality slip after that.. (but probably no worse than the other 2)... there was always rumours on who was looking to buy them since then and they were always focused on making the profit sheet look healthy.. They have a dedicated crew there so I think with the right push and $$ behind them, they could get the brand back up

NDC's picture
NDC's picture
NDC commented Tuesday, 1 Oct 2019 at 5:28pm

Lotsa people rating Kathmandu quality - I never knew, thought they were the cheap and cheerful brand. I'll be trying them out...

P.S Mountain Designs - two jackets with shit zips - so frustrating to have to turf an otherwise good jacket 'casue they wouldn't shell out on a quality zip when the first built it... Oh well...

tango's picture
tango's picture
tango commented Wednesday, 2 Oct 2019 at 4:58pm

Just get the zip replaced....easy. No need to turf good gear. Heaps of places do it.

Lanky Dean's picture
Lanky Dean's picture
Lanky Dean commented Tuesday, 1 Oct 2019 at 6:06pm

Interesting, turn of developments.
Will it actually happen ?
Wonder if the new owners will fully support the rip curl ct contests?
Ah so many questions

ojackojacko's picture
ojackojacko's picture
ojackojacko commented Tuesday, 1 Oct 2019 at 6:12pm

“Professionally, my team and I are excited by the opportunities that this will create and we look forward to joining Kathmandu and retaining our Vision of being regarded as the ultimate surfing company in all that we do.”

ha ha - yeah right. all good until the retrenchments kick in. split retail spaces - kathmandu one end of the shop, ripcurl the other. close down any that are too close together, reduce retail staff and consolidate backroom operations.

nah, could never happen

kavachi's picture
kavachi's picture
kavachi commented Tuesday, 1 Oct 2019 at 8:40pm

not exactly a vote of confidence for the surf merch industry is it. How lo can she go ?
Surprised a hedge fund didnt snap up RC for those $, with the Olympics just around the corner, and all the ‘lifestyle cachet’. Guess the fcst aint great. Viva la revolucion

theblacksheep's picture
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theblacksheep commented Tuesday, 1 Oct 2019 at 9:01pm

Great time to get a challenger brand going. Back to the core market. I’m sure some ex execs are plotting away and the niche players should be scheming and dreaming big. Patagonia are not a “challenger” but are one of the few brands that come to mind with a solid believable rep. Pity their surf product range is not broad enough (yet?)

Lanky Dean's picture
Lanky Dean's picture
Lanky Dean commented Friday, 4 Oct 2019 at 1:47pm

Years ago when patagonia first dipped it toe into the market an over seas friend referred to them as " patagucci" .
I asked why he kept referring to them as patagucci.
He just chuckled and said " have you seen how much there clothes
and wetsuits cost?"
The're Fooken expensive I found out.
Patagucci is not a surf company.

DBEARINDARE's picture
DBEARINDARE's picture
DBEARINDARE commented Tuesday, 1 Oct 2019 at 9:19pm

I too had a rip curl watch that I liked, then had the sword early in its life. Tried to get it fixed by rippy. No good. Asked for replacement. No longer had them in captivity.
Got to choose another and they came good with the exchange. Can't knock them for that.
As for wetties. Get tailor made by ZEE in QLD AUSTRALIA maaaaate!
They are fair priced. Good quality. And fit your rig perfect because they cut to size.
Check em out.

Vic Local's picture
Vic Local's picture
Vic Local commented Wednesday, 2 Oct 2019 at 6:32am

One good thing about this acquisition is Kathmandu have already gone down the cheaper cheaper cheaper line only to get in financial difficulty.
A return to quality technical clothing put them back on track. The surf industry definitely needs to get on that program especially with wetsuits. It’s crazy that a 4:3 only lasts two winters, about 8 months of use.

"angry online, smiley in the brine"

tango's picture
tango's picture
tango commented Wednesday, 2 Oct 2019 at 5:00pm

Yep, my 4/3 Fbomb leaking now on its second winter now. Had an O'Neill 4/3 Freak that lasted 8 winters. Expect a bit more for $600....

zenagain's picture
zenagain's picture
zenagain commented Wednesday, 2 Oct 2019 at 5:49pm

O'Neill 4/3 Mutant and Psycho III, you think I would have learned after the first one. Absolute shite.

Never again.

Watashi wa metabo oyagi desu.

ringmaster's picture
ringmaster's picture
ringmaster commented Wednesday, 2 Oct 2019 at 8:31am

Some of you sound like you need some sort of help with how to look after a wetsuit. It aint real hard.

I've been surfing in R.C wetties for nearly 40 years and can honestly say I've never had a dud. They've always been really good with any issues that come up anyhow. Just drop it off and pick up again a few days later F.O.C. Fuck......the wettie didn't even need to still be under warranty until a few years ago.

Vic Local's picture
Vic Local's picture
Vic Local commented Wednesday, 2 Oct 2019 at 8:46am

I’ve done that with three 4/3 Quiksilver wetsuits in a row. The seams started splitting after six weeks. My previous Ripcurl one lasted way longer, but seems others are having problems with ripcurl. Hope they are washing them out in freshwater, and not drying them out inside-out in the sun. Both companies are good with wetsuit returns and have happily replaced with new suits. Hopefully they’ve got the shit together with better glue and seam material.

"angry online, smiley in the brine"

velocityjohnno's picture
velocityjohnno's picture
velocityjohnno commented Wednesday, 2 Oct 2019 at 1:09pm

Largely agree with you two, RC are wonderful in that they will warranty repair seams that go. There is in-house wettie making and repair which is valuable to have on the coast. From time to time you see development suits in the 2nds shop or around, they try some pretty spun out things. Again, I've found the Dawn Patrols the most durable, but they don't have the flex or quik-dry nature of some of the other Rippy lines. In recent years, yes, you get some seam leaks, that are repaired well. I hope in future the glue could be stronger so the expense of warranty repairs is not required as often. I dry my wetties in the shade under my eave, inside out first and folded on the waist, not hung from the neck on a coathanger. Also store them folded on the waist. Favourite Rippy suit in the family was an old E3 bought new at full price for my son when 12, he had till 16 and then we kept it as a hand-me-down. Excellent suit, so flexy, still in one piece though we have had cuts in the smooth reflective rubber repaired. Accidentally packed it instead of my own on a trip to the west and mate was laughing at me as I made it fit in the Boodjy car park.

That said, the Quik seams had glue probs about 5 years ago, though I did score a 5/4 at the Quik sale about 10 years back that was superb - only just now begun to fall apart at the external rubber seals, still dry inside after 10 winters.

My wetties tend to get a pretty heavy use cycle and the first seam to wear is always the groin (and boardies, and jeans, and undies, always the groin, Gary G would be proud). Maybe I'm walking across the reef too much.

Most brutal wetsuit ever was a Wetsuits one (RIP) I bought through a mate sight unseen. Sizing was good, flex was excellent, but what I didn't grasp beforehand was the legs were a perforated rubber! So every winter surf stepping waist deep into cold Bass Straight, I would recoil in pain! That wettie was dubbed 'The Nutchillator'.

tango's picture
tango's picture
tango commented Wednesday, 2 Oct 2019 at 5:05pm

They seem to be OK now with recent gear, but don't seem to look after the 4-5yr old gear like they used to anymore. My suits get rinsed, dried in shade and then hang on a roller in the cupboard for 6 months a year on the fleet rotation as I've got a full set and doubles so I rarely put on a wet one on. I had a major perish issue letting in stacks of cold water earlier this winter in a suit on winter #2, and they made me pay for the privilege of fixing it.

zenagain's picture
zenagain's picture
zenagain commented Wednesday, 2 Oct 2019 at 9:59am

Somebody mentioned above going back to O'Neill wetsuits- in my experience, worst wetsuits EVER in terms of durability. Initial comfort is excellent but it stops there. I'm sure the two I had disintegrated right before my eyes. I've only had one RC, a dawn patrol and it was good. For wetties, Patagonia R4 for really cold water, R1 and 2 for milder conditions. Pricey but super durable. Also had an Xcel drylock, really good.

For snow, trekking, alpine wear, again Patagonia. Not sure if it's in Oz but there's a Japanese brand- Montbell that makes really good stuff. For hiking boots another Japanese brand, Caravan are the bomb.

Good on Claw and Singo for cashing out- they've earned it. 50 years is a good run.

edit: have a Kathmandu fleece, had it for years. Good stuff.

Watashi wa metabo oyagi desu.

Blowin's picture
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Blowin commented Wednesday, 2 Oct 2019 at 4:50pm

You’ve got to hand it to these two individuals who built a living doing something they loved , and which truly serviced a need amongst their community, on not much more than passion, drive and love of the surf culture.

Congratulations on your lives and your success. No doubt you’ve had some crazy experiences along the way.

Can’t really side with this odious paean to self- serving industry by Nick Carroll though :

““Me, I’ve been thinking all day about something Claw said to me months ago.

We were discussing professional surfing — specifically the huge amounts of money that the Big Three and their near-peers had poured into world tour events and pro surfer salaries over more than a generation.

“People wig out over the amounts being invested by the WSL’s owners, but they pale next to the sums forked out by the surf co’s from the mid-1990s onward. The WSL has been dropping tens of millions, but before that, the Big Three’s bills woulda been closer to half a billion. Everyone from Kelly Slater to your local boardriders leaned on 'em.””

Of course , this is an utter inversion of the truth, in which every single surfer from Kelly Slater to the local boardrider was leant on to socialise the cost of industry’s unrelenting urge to expand their consumer base and therefore the number of surfers competing for the globe’s limited surf breaks.

Every billboard , every main beach surf contest , every poster , every advert was a premeditated siren song designed to lure more people to the lifestyle in order to buy more Rip Curl pencil cases , back packs and wallets.

Every desperately glamourised depiction of an untrammelled line up being surveyed by an improbably sculpted surfer was a heroin dealers first- taste-free shot to the landlubber in order to get them hooked on product.

People who would’ve never encountered or considered the surfing lifestyle were inveigled into thinking that their future lay in that outsized image of Mick Fanning strolling along a deserted tropical island which dominates the wall of the international airport duty free section.

You’d excuse this premeditated enticement and the resultant overcrowding of the world’s line ups if it came from a place of integrity and was driven by the pure desire to share the joy of stoke .....but the $350, 000,000 payday paints a truer picture.

icandig's picture
icandig's picture
icandig commented Wednesday, 2 Oct 2019 at 8:18pm

It probably started that way...(sharing the joy of stoke); or maybe it was just a means to an end; to continue living a 'surfing life' whatever that is....I wonder where the worm turned...when they started to put business demands first and if they look back they can reconcile the two. They can at least count their money while they pontificate.

Jason Hellor in his book 'Surfing with Satre' might have some insight. I haven't read it, but I reckon I'll have to check it out.
"How do we balance labor and creativity, work and leisure, while living in a capitalist system that pulls and prods us toward an ideal of efficiency?"

tango's picture
tango's picture
tango commented Thursday, 3 Oct 2019 at 10:04pm

One thing is for sure, though - they are not alone in pursuing profit at the expense of others who occupy the space. Vested interests are rife and very few are pursuing the profit opportunity with an appreciation for how they have one hand on the axe killing the goose laying the golden eggs. So many experiences in finite places rely on fewer people being present, but everyone who can make a buck out of it is encouraging more and more people to do it - clothed or kitted out in their product, of course.

OHV500's picture
OHV500's picture
OHV500 commented Friday, 4 Oct 2019 at 3:40pm

Worked for Brian and Claw (mainly Brian) for a while back in the 90's, through to the 2000's and my experience was fantastic. Great blokes and very much still into the surf. Maybe that changed in recent years - but when it comes down to it and you add up the pro's and cons - I think they have been great for surfing.

Blowin's picture
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Blowin commented Friday, 4 Oct 2019 at 5:36pm

Brian and Claw might be the nicest guys in the world , but I’m not sure I’d agree with you that they were great for surfing.

Wetsuit technology might not be what it currently is if it wasn’t for Rip Curl but I’d wager that the organic , non- marketed growth of surfing would’ve still provided for very adequate suits.

And the world sure as fuck wouldn’t look like this without their stinking expansionism

OHV500's picture
OHV500's picture
OHV500 commented Friday, 4 Oct 2019 at 8:58pm

Not sure if you can blame just RipCurl for this :)) and if you were in their position/situation what would you have done? Just something to think about.

Blowin's picture
Blowin's picture
Blowin commented Friday, 4 Oct 2019 at 10:14pm

What position would that be ? Making a shed load of money ?

I reckon they’d have made many , many , many multiples of the amount of money I considered was enough and I walked away from the pull of it at half their age.

They already had a world full of mates and admirers, respect by the mile , adventure at their feet and their families financial security years ago. The rest would have been love of the game and keeping crew employed . That I understand, but they still knew what they were doing to the crowds in the water and knew that their money provided a moat from the worst of it.

I recently read the Rip Curl story by Tim Baker. The fellas had ( have ) amazing lives and took many people along with them for the ride. You can’t feel much but respect for that .

It’s the fact that they knew that they were blowing the sport out of the water with the crowds that they were generating that the respect falls in a heap. You could say that perhaps they weren’t really conscious of what was happening, but then you’re just making them out to be morons.

OHV500's picture
OHV500's picture
OHV500 commented Monday, 7 Oct 2019 at 9:34am

So selling product for other crew to enjoy the waves with, is a bad thing ? (I know most of it came for T's ... ) What gives us (older surfers) the right to say 'no more people in the waves please, its crowded'. Thats not 'blowing the sport out of the water' - and you loose respect for them because of this ?
I think its 'tall poppy syndrome' and its just really easy to hate these days.

Lanky Dean's picture
Lanky Dean's picture
Lanky Dean commented Saturday, 5 Oct 2019 at 3:06pm

where is the photo?

Blowin's picture
Blowin's picture
Blowin commented Saturday, 5 Oct 2019 at 3:50pm

From google images.

I’m guessing California due to water colour , wetsuits , crowd levels and the amount of elderly long boarders .

If anyone knows ....let’s hear it.

smithyg's picture
smithyg's picture
smithyg commented Friday, 4 Oct 2019 at 12:38am

Release the book and sell the store, 50 year storm.

GS

Lanky Dean's picture
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Lanky Dean commented Friday, 4 Oct 2019 at 2:00pm

That's the curtains.
Those wilko wetsuits were all time though.
They actually have a big support base of surfers in the US as they must make good / great wetsuits.

I honestly don't think I have ever had a rip curl suit in 36 Years of surfing.
Lets see what the future brings !

indo-dreaming's picture
indo-dreaming's picture
indo-dreaming commented Friday, 4 Oct 2019 at 5:28pm

Hope they will still do good wetsuits, i like Rip Curl wettys maybe not the warmest or mist durable but always very flexible.