Rip Curl’s pivot to transgender market partly blamed for mass store closures and $83 million loss 

The results "highlight how the once-iconic Aussie surfing brand has lost its appeal with core customers."

Only two years ago, although it feels forever, Rip Curl joined a line of progressive Australian brands pivoting into the transwomen market, a move I regarded as brave and correct and a reflection of surfing’s inherent inclusiveness. 

A very Rip Curl move, let’s be said, surfing as a broad church etc.

In an Instagram reel as part of Rip Curl Women’s Meet the Local Heroes of Western Australia campaign, Rip Curl Women featured the inspirational T-girl Sasha Jane Lowerson.

Lowerson was one of Australia’s leading male longboarders, even winning the men’s longboard div as Ryan Egan, before transitioning three years ago and joining the women’s side of the draw.

The beauty of the Rip Curl post is its complete acceptance of Lowerson into the sisterhood. ie. no transition talk.

Meet Sasha – a West Australian waterwoman who loves the freedom found in surfing, disconnecting from the mainstream, and the feeling of dancing on constantly changing waves. When we were adventuring through Western Australia recently, we were keen to know what The Search means to the surfers who crossed our paths. These surfers live on a wild stretch of coast where there’s always a new wave or campsite just a little further down the road or off the beaten track. It’s a state of mind, always being ready to try something new, curious to seek out knowledge and learn the rules – and break them.⁠

The post, which was later removed, went viral after after anti-trans-women-in-sport activist Riley Gaines slammed Rip Curl as “crazzzyyyy”.

“You mean to tell me that Rip Curl dropped Bethany Hamilton for opposing men surfing in the women’s league then picked up male surfer who surfs in the women’s league as a women’s ambassador?” wrote Gaines.

Rip Curl and Bethany parted ways, it’s believed, because of Bethany’s opposition to trans-women in gals’ sports. 

Calls to boycott Rip Curl grew from a murmur to a raw.

Skateboarder Taylor Silverman joined in the chorus, unsparing in her criticism of the New Zealand-owned company.

“According to Rip Curl this man is a ‘waterwoman’…reality is he’s just a mentally ill man making a complete mockery of actual women and “The “community” is so supportive that Rip Curl had to disable the comments!”

Markets were subsequently rocked when Rip Curl CEO Brooke Farris, who led the controversial pivot, suddenly quit. 

Now, some mainstream media outlets in Australia, are claiming it was this pivot that contributed at least partly, to Rip Curl’s parent company Kathmandu posting an $83 million loss. 

From the newspaper of choice, the venerated Daily Mail, 

KMD’s financial woes come after Rip Curl faced a major consumer boycott in 2024 for using  transgender surfer Sasha Lowerson in a promotion for women’s surfing.

Lowerson was used in the promotion after Rip Curl severed ties with pro-surfer and shark attack survivor Bethany Hamilton, reportedly over her opposition to transgender competitors in women’s sport. 

‘Go woke, go broke,’ many Aussies said as they vowed to boycott the brand, with some customers even burning their Rip Curl board shorts as a result.

While the latest results are unlikely to be directly caused by the boycott, they highlight how brand the once-iconic Aussie surfing brand has lost its appeal with core customers.

Before that KMD Brands had been profitable since at least 2014/15, a review of its financials shows.

Rip Curl surf lifestyle brand made $27.1million in underlying earnings before interest, tax, depreciation and amortisation (EBIDTA), down 27 per cent from last year, while its Kathmandu outdoor store chain posted a $1.15million EBITDA loss after a $13.28million profit in 2023/24.

I think a very long bow to draw in this matter and all that consumers care for when they walk into a Rip Curl store is, a, does it look good inflating my hams, b, how much and, c, oowee, can you do it a little cheaper?

Sasha Jane Lowerson, meanwhile, has pivoted into adult content, an astute and, likely, lucrative move. For as little as $12.44 per month, Sasha’s fans can access twenty-six racy photos and twelve videos. 

Surfer Girl by day, Porn Star / dominant and alternative model of your wildest fantasies by night.

Come and join me on my journey of starting to create adult adventures as I become the goddess of your dreams or nightmares, you choose 

Kink friendly seductive mistress. Gothic beach babe ready to bring your fantasy videos to reality.

Get access here.

View this post on Instagram

A post shared by Sasha Jane (@dollsscansurf)