Nike sues SurfStitch.
Nike goes after SurfStitch.

Nike sues collapsed online surf retailer SurfStitch for paltry $237,000

The SurfStitch cadaver set to be picked over by sportswear giant Nike.

The once set-to-be-iconic and make-a-billionaire-out-of-anyone-who-had-a-piece-of-it online retailer SurfStitch has hit new lows with Nike taking it to court for what is, in context, a relatively paltry $237,000.

There was much mystery and whispers one months ago, you’ll remember, when online online sleuths brought the evaporation of SurfStitch from the internet to BeachGrit’s attention. 

Once upon a time, of course, SurfStitch’s founders Lex Pedersen and Justin Cameron were the king and queen of the surf world with a bold vision to own the online retail space on everything surf and its peripheral rip-offs, skating, snowboarding etc.

A recap: 

The company they started in a little industrial area on Sydney’s northern beaches in 2007 soared to a half-a-billion-dollar valuation by 2014. 

Heady, heady days. And, then, poof.

A $155 million loss in 2016 was driven by the disastrous acquisition of FCS, Stab, Magic Seaweed and Coastalwatch and shareholder lawsuits over inflated forecasts.

In the 2016 financial year, SurfStitch made two ten-year agreements with Coastalwatch and its various companies whereupon “Coastalwatch would provide a link on its website to SurfStitch Group’s Australian website for a fee of $8 million.”

Alceon Group acquired it in 2018, folding it into Alquemie Group, owners of Lego in Australia, but recovery stalled. In 2023, Alquemie posted a $2 million loss, down from a $3.2 million profit, amid redundancies and a failed SurfStitch rebrand.

After being offline for over a month, Alquemie revealed it had been sold, along with gal’s brand Ginger & Smart, to an unknown buyer who subsequently appointed voluntary administrators.

Now, Nike, a company that turns over 51 billion a year, is sore ’cause they say they’re owed $237,760.38 by SurfStitch and have taken ’em to court to recover the cash. The sportswear company submitted a request to liquidate SurfStitch in May, and the firm entered voluntary administration on June 6, according to records from the Australian Securities & Investments Commission (ASIC).

Still, a little of that of that famous Lex/Justin optimism remains.

On the SurfStitch landing page a message reads,

“Sorry, our site is undergoing maintenance. We expect to be back soon. Thanks for your patience.”

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Pip Toledo's pappy Ricardo (pictured) surfing a wave with more wall.
Pip Toledo's pappy Ricardo (pictured) surfing a wave with more wall.

Surf fans wipe tears from cheeks after Filipe Toledo’s papa explains why baby boy lost surf contest in micro waves on home turf!

"The wave with more wall is missing, which allowed you to show all your surf."

Hours ago, the surf world was stunned to oblivion when the best little wave surfer ever created (save those making magic in wave pools) was ingloriously jettisoned from Brazil’s signature event. Chris Cote et. al. referred to Filipe Toledo as the King of Rio, a very true statement though, for 16 gorgeous hours, he was also King of Teahupo’o. No one, never and always, can critique the San Clemente transplant’s skill in waves ar0und knee high.

And yet.

Today he fell to countryman Miguel Pupo likely ending his chance to surf ledging Fijian barrels for an opportunity for a third world title.

Shattering.

But, shockingly, not Toledo’s fault.

His father took to social media in the aftermath of the stunning defeat to share the assessment:

It was a tough day at Saquarema. The battery had few waves, the sea didn’t help, and Filipe ended up being overtaken by Miguel Pupo in the final moments.

During the dispute, he still had a broken board and needed to change equipment — one more obstacle in an already complicated battery. The wave with more wall is missing, which allowed you to show all your surf.

Thank you all for your support and love, as always. We’re still standing firm. All the time!

Surf fans, everywhere, immediately understanding. “Wave with more wall” under 2 feet, not above 4 feet, plus horrible surfboards to blame.

Light a candle for House Toledo, tonight, plus begin a petition to have Filipe Toledo included in the final Finals Day due this extreme injustice.

Thank you for your service.

All the time.

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Filipe Toledo (left) being mocked by Kanoa Igarashi after losing his signature event.
Filipe Toledo (left) being mocked by Kanoa Igarashi after losing his signature event.

Former “King of Teahupo’o” Filipe Toledo sees odds of surfing Cloudbreak collapse after dramatic Rio Pro loss!

Gutted.

This is the final year that surf fans will get to enjoy the World Surf League’s dramatic “Final Five” format. Rolled out a baby handful of years ago, the change sought to mimic the thrilling Pipeline final in 2019 betwixt numbers one and two Gabriel Medina and Italo Ferreira. Winner take all. The League, then fronted by former CEO Erik Logan, decided that California’s Lower Trestles would be the best approximation of Da Banzai and hosted three consecutive Final Fives on those cobbled stone.

Small swell wizard Filipe Toledo winning two of them before stepping away for a mental health year.

Now, grumpy surf aficionados oft insist that Toledo’s two cups should come with silver asterisks attached, seeing that the diminutive Brazilian once refused to paddle any consequential wave, most notably at Teahupo’o and Pipeline. What they conveniently forget is when surfing’s ground was forever shifted at the 2024 Paris Olympics wherein Toledo wrangled a 9.67 tube halfway across the world, at the Place of Broken Skulls, and was crowned “King of Teahupo’o.”

While his glorious reign lasted less than 16 hours, it showed the li’l lion’s potential and, thus, surf devotees were very excited when it was announced that this final Final Five will be conducted at Cloudbreak, a monstrous and scary left. A chance for House Toledo to establish itself once more.

Alas, moments ago the forever young 30-year-old suffered stunning defeat at the Rio Pro, falling to countryman Miguel Pupo in the dying seconds of the round of 16. Pupo snagging a right under priority and bashing slashing on his backhand, only taking time out to celebrate mid-wave. He was rewarded with the necessary number, vanquishing Toledo and sending him sliding down the rankings. He is currently 8th, three spots out of a Cloudbreak invitation, but likely to slip more depending on how the rest of the contest plays out. Only two events remain in the season, J-Bay and Teahupo’o, and might surfing’s best-ever story be in the works?

Filipe Toledo wrangling a Tahitian Titan to punch his ticket to Fiji for the last frame?

Stay tuned!

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It’s on! Live chat, day two, Rio Pro!

In six-to-eight-foot waves according to Surfline!

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Uriah Anchor avoids surfboard as guillotine at Teahupoo.
Uriah Anchor avoids surfboard as guillotine at Teahupoo.

Is this the best burn of a seven-year-old surfer ever?

Baby child famous for outshining world surf champ at deadly Teahupoo gets regulated!

The seven-year-old surf prodigy Uriah Anchor became famous last year when he outshone Filipe Toledo at Teahupoo, riding the joint as if he was born there, a plastic helmet his only protection against the deadly reef.

Toledo, you’ll remember, was in the running for a shock gold medal at the Olympics last year, even clocking an almost perfect ride while the surf remained small. However, his hopes of glory were shattered when the surf got a little bigger and Toledo threatened to reprise his famous zero-point heat total there.

Eight months ago, Uriah Anchor released a few IG posts where he fearlessly attacks the famous left that has flummoxed two-time world champ Filipe Toledo for well over a decade. His performances drew sharp praise from a cavalcade of surf stars including the man who pioneered backside tube riding at Pipeline Johnny Boy Gomes.

 

View this post on Instagram

 

A post shared by Uriah McDonald (@uriah_anchor)

Uriah Anchor’s latest drop is a take on the 1992 film Kelly Slater in Black and White, a short film that confirmed, as if confirmation was necessary, the 21-year-old Floridian’s genius.

As he, or his daddy, explains on the channel,

This is our 1992-inspired surf edit for the Chemistry Surfboards Surf Video Challenge.

When Chemistry Surfboards raffled off four custom boards to local Osiders, 7-year-old Uriah was one of the lucky names drawn. The challenge? Film and edit a complete surf video in just one month.

Uriah took that board straight to work—stacking clips at Lowers, Trestles, Teahupoo, and more…
pushing his progression and style on every wave.

The highlight, in my book, is baby child getting regulated by a man at Teahupoo. Uriah deals calmly with the unexpected visitor from the heavens, scoots around the blade, and gets tubed out of his head.

Question to the below-the-line gang: you ever give hell to a kid in the water?

If so, what was the rationale and did it feel like a triumph of the spirit or did you go home and weep?

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