Billabong and Quiksilver elbowed, sharply, under the bus by Torquay's favorite son.
Rip Curl’s profits rose an astounding 63% and revenue increased 7.8% last year according to The Australian and joy echoes off Torquay’s gloom. The company is now valued at $310 million dollars and major shareholders are buying less major shareholders out and throwing lavish parties which include magnums of Carlton Draught and cabanossi, crackers and cheese (probably). How is Rip Curl’s sun so bright? Director Tony Roberts explains.
“We are more of a core surf brand than either key competitors. They both grew bigger than us but in growing bigger they stretched into that non-core market more than we have and we have been very true to our roots in terms of our core products.”
But, really, didn’t Rip Curl mostly get lucky and not have enough spare change floating about to build thousands of ill-advised mall stores? Wouldn’t the brand have gladly bought multiple New York locations if they could have? Yes. So maybe Mr. Roberts could have been a touch more honest. I will help! Here is his new quote!
“Nobody bought Rip Curl for lots of years and so we couldn’t really do anything stupid but not for lack of trying.”
Now that the sun is gleaming, though, (and also because of hottest surfer Mason Ho) expect profits and revenue to skyrocket even more! Expect a 10,000 sq ft Times Square showroom gleaming as bright as Rip Curl’s sun featuring the latest in platform flip flops and “live the search” XXXL t-shirts.
How will Billabong and Quiksilver respond to the dig? Will they set upon Torquay with pitchforks and torches? Will they laugh and then jointly purchase Rip Curl in hostile takeover, establishing stores only in Syria and Iraq?