December 15, 2010

Rip Curl Buys 15 Surf Stores

Rip Curl is upping their retail game acquiring 15 surf stores in W.A. According to the release (below), “The Perth-based acquisition consists of nine “Waves” surf stores, two “City Surf” stores and four “Cite” streetwear stores in the chain. The stores are located in mall locations across and around Perth.” This is going to be some interesting times for the surf industry – will big brand ownership add stability to an otherwise fickle retail environment at the moment? Does that outweigh the effect that brand ownership will have down the track when the push for sales has an inevitable effect on the ability for new, smaller brands to reach those channels? I’ve heard both sides of the argument in the last few days and each side has very valid points – what’d you guys think?

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PRESS RELEASE

Rip Curl Purchases Waves Surf Stores

Surfing Company Rip Curl today announced the acquisition of 15 surf stores in Western Australia. The Perth-based acquisition consists of nine “Waves” surf stores, two “City Surf” stores and four “Cite” streetwear stores in the chain. The stores are located in mall locations across and around Perth.

Chris and Vicki Prastidis have built the Waves surf retail business over the past 25 years. Rip Curl sees significant opportunities to grow the business from the solid base of multi-brand retail stores created by the West Australian couple.

“Western Australia has a really exciting future. We want to ensure that surfing and surf products continue to be presented well in this state. Chris and Vicki have created an amazing legacy and we hope to build on that.” said Rip Curl Asia Pacific CEO, Steven Kay. “Perth is the gateway to one of the great surfing and youth markets in Australia and Rip Curl want to put more effort into the region.”

It will be business as usual for the stores over the upcoming Chistmas and summer period.

“Chris and Vicki have some excellent staff on the team all of whom we look forward to working with, alongside our own retail people,” said Mr Kay. “It is an exciting time for us in the West.”

Rip Curl is a privately owned surfing company started in 1969 with head office based in Torquay, Australia. It has major offices in the USA, Europe, Indonesia, South Africa and Brazil. The company makes boardshorts and swimwear, surf and sport apparel, wetsuits, watches, surfboards, mountainwear, bags and other accessories.

by Dave