New Zealand’s Kathmandu recently acquired surfing sportswear and gear brand Rip Curl, creating a $1-billion surfing and outdoor adventure lifestyle firm offering a product mix to their combined customer base across wholesale and retail channels. The brands intend to continue to run independently and look to capitalise on the obvious benefits in the merger.

“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 chief executive officer (CEO)Michael Daly in a statement.

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.”

Fibre2Fashion News Desk (DS)

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