Surprised much! As far as I knew Claw and Singding were as involved as ever in the business. Guess it was no surprise that business at the house of Curl wasn't going stellar but then who's business is? Its also no suprise that The Search comps were losing money and RC were running out of options. Would've thought those things were triflings compared to what they'd seen. Strange days indeed.

Rip Curl have issued a statement, in which they say they have 'identified a number of global opportunities':

"We have also recently received unsolicited approaches from several international organisations which have indicated a desire to invest in our company," Rip Curl said.

"In order to assess these opportunities, the Board has appointed Merrill Lynch to assist Rip Curl in exploring the opportunities available as well as assessing the merits of introducing a third-party investor to the group.

"The Board recognises that if any such investment were to occur it would need to be consistent with our objectives of ensuring our company values and brand values are respected, supporting our staff and being in the interests of our shareholders".

I hope the staff are looking at a Management Buy Out as an Option. No one knows the business better than these guys and partners with the right capital investors they could all do pretty well out of it.

If sold the question I want answered is whether the valuation includes the on-going rights to take over public spaces for a fortnight at a time to hold surf products marketing exercises otherwise known as surfing contests at places like Bells. Yeah yeah don't give me the "its good for the town" line because while surf contests maybe good for local fast food outlets that's it. What about the poor punter that gets his or her town, beach or surf break taken over by the latest marketing stars, oooops I mean pro-surfers.

The Curl have brand and company values? ........ what, paying 3rd world workers a pittance to produce over priced Tshirts. Great values, similar to Gina's paying miners $2 a day values.

Can't see the Ripcurl Pro at Bells going anywhere soon floyd. I would not be surprised if the Search events get the chop however. They have probably milked that idea for all it's worth and not many areas would be lining up to host considering the impact it's had on some of the past locations. (though some would welcome the exposure no doubt!)

Looks like our local Yorkes Classic won't be running this October long weekend after more than 25 years! Former sponsor Cutloose has gone out of business and other sponsors are reluctant to get on board(so to speak) after the debacle that was the K.I WQS 6 star Vivonne Bay Pro.

A victory for the long weekend warrior?

Wow! Totally never saw this coming. And the house continues to fall.

once again old rottkamp is in need of buying a clue. Just because some folks who've built and ran a company for many many years may be willing to sell their firm to another group of buyers does not mean the brand goes out of business. and or ceases to exist.

of course, why should we expect rottkamp to know anything about business. or finance. as he's a Hollywood Handbag....

and we know all about Hollywood. handbags. and THEIR bookkeeping.....

http://en.wikipedia.org/wiki/Hollywood_accounting

Oh, and fall does not officially start until sept 21st.

drive thru, barnold. drive right on thru.

it's all about target acquisition - there won't be as many to have a shot at ..

the-roller
29 minutes
delete your comment
in order to further their growth paths megas have always purchased the quality middle and smaller companies. same as it ever was

and, assuming that there will be no more entrepreneurs building from scratch, new companies with products and services that people dig, misses the fact that, they are there. and growing.

same as it ever was.

dig out your soul.

I missed this line during last week's commentary:

"Industry experts say US-based private equity giant TPG is almost certainly among suitors and could bundle Rip Curl in with debt-laden rival Billabong to create a surfwear titan."

Now there's a scenario I don't think anyone would have considered. Not really sure if I see the benefits to each brand though (aside from the economies of scale).

http://www.heraldsun.com.au/business/striving-to-catch-rip-curls-wave/st...

Ben,

In the world of surf comps, plenty of folks are combo'ed... so, why not with this latest rumor in the world of business?

as it would not be anything that companies like PPR, and or the La Jolla Group haven't been doing for ages.

http://www.lajollagroup.com/

http://www.ppr.com/en/brands

So a buyer can't be found,which means the price is too high or that any wary investor might have done their due dilligence and realised that ,the brand has lost genY and that RC is not a youth or sports brand but an ailing GenX/Baby Boomer.....brand!!

Sad to say ,but I wonder if a measure of success in a Surf Co,is the legacy and the career path that has been left by the creators/Founders,for future generations....and just the personal wealth amassed by a few??

Wonder if there is any succession planning going on now? Is there anyone to take over the business internally if the owners have had enough?

Atleast their wetsuits don't fall apart after one season

looks like there is no succession plan,Brian S is back as CEO,no familly members seem intetrested in taking over the Co's...so,ah????

Brutus , I couldnt agree more. The youth are a different breed identifying with different brands. What the fuck has red bull or nike got to do with surfing, jack diddly really. However all the boardsports are being taken over by brands like red bull etc. The masses are easily brainwashed by the media machine. I say to groms, support your local shaper, cool is one letter away from fool, you dont need label crap. If you dont support your cottage industries your future is fucked. Pay a little extra for something produced in your own country to ensure the indusrty survives to employ the next gen. Big label surf companies are doomed, kids these days dont want to associate with ho dad labels like rip curl etc. Their time is up. Move with the times or get left behind.

http://www.insideretail.com.au/IR/IRNews/Rip-Curl-pulls-deal--7685.aspx

No mention of a succession plan there either - just the owners wanting to exit the business. Imagine fighting Billabong your whole life and then its their fault because you can't get a sale.

Geez they will be happy they are not listed.

+ fool is 1 letter away from tool.
And soon that will be cool...

I'm all for supporting anyone/thing that deserves my coin. Cottage or Corporate. Someone makes a wetsuit that works, I'll shop there again. Someone makes a board I like, I'll buy another one.

Don't forget; Mayhem, Ripcurl, CI, Quik etc... were all underground labels once. Just cause they get successful (usually through bloody hard work and determination) doesn't mean that they produce shite. More than happy to support cottage industry too. So long as its a 2 way street...
Happy buyer + Happy seller = Everyone is happy.

SMH are reporting that Claw and Singer no longer Directors at Rip Curl (however they still own the majority of the company).

http://www.smh.com.au/business/surfing-buddies-who-rode-rich-wave-step-a...

Those bagging RC should consider what these guys have done for surfing over 45 years. They have always produced brilliant wetsuits (look at your local how RC outnumbers the others 5-1) and have sponsored Bells for about the same number of years they've been in business!

Good luck to them if they sell but hope brand lives forever.

Weeny, you've never met claw have you he's one of the biggest kooks in torquay, they have done nothing but bend surfing over and rape it. Talk to the people from the surfcoast shire who deal with the contest directors, talk to the people from the barra in Mexico, have a look around the surfcoast, the home of RC, no longer are they the wetsuit of choice.
I've considered it mate and am not surprised the are asking to much, greedy till the end.

Three cheers for anonymous internet critics!

At what age is it appropriate to retire ?

Shaun, give up refering to Surf Coast Shire, its them that needs to build another 20,000+ new homes to pay for their budget deficit, not RC. I'd be sure RC has paid their rates and some, either directly or indirectly, over the decades.

As for the boys selling, if/when... it's a Private Company and they're free to do whatever they want.

I've got my opinion sid and it is from growing up on the surfcoast when everybody new each others business, long before your short stay, they did not always pay there bills, locally there not loved.

That's beside the point, two blokes built a business, a Privately Owned business. They can retire or sell up whenever they want. You can hate them all you like.

I worked for Rip Curl for a few months way back when. I quit when I realised that they were paying my wage out of the Federal Government's regional employment and training scheme.....after bringing me down from Sydney! So private company? Yeah but one that had no qualms about taking the taxpayer's money under false, if technically legal, pretences. To me it was indicative of the ethics of the industry then and I have no reason to believe that they improved with time.

Hey BB, Fed Govt.s Regional Employment & Training schemes, are for regional biz's.

Politically, Surf Coast qualifies as regional. It's the biz's location, not yours.

Even ex-scousers from Sydney, like you, qualify. Amazing ay ?

As I said Sid it was technically fine but absolutely in breach of the intended purpose. Being legal doesn't make it ethical. Have you made a special study of the terms and conditions of mid-seventies Federal Government regional assistance programs or are you relying on your memory here?

BB, Do you have any problem buying a Ford or Holden vehicle ? How much of Kevin 07's GFC largesse was spent on pot ? Have you recieved a baby bonus or first home owners grant ?

Clutching skinny straws there mate. Must admit, I don't get my head around the surf industry hate myself. Prefer to stick to real horrible cunts and bigger targets... Big Pharma, MSM, Big Tobacco, Banks, Industrial Military Complex, Monsanto etc.

But anyway guys, Claw n Sing Ding, go for broke, knock yourselves out.

Sid I'm not sure that you can equate buying a product or receiving a service with working for the company responsible for them. Never had a baby bonus or first home owners grant. The exact purpose of Krudds payment was that it should be spent and it was economically irrelevant on what. As for hating the surf industry, I think a kind of low level contempt comes closer to the mark. Hate requires far too much energy and rational criticism has more power. Now do you want to check my tax return?

Good for you BB. Happy grizzling, watch out for mals, I'm guessing Aust & surfing has been good to you in general.

I'm off to the wood chop, including tonite's session of Fed & State sponsored Cert IV Business Excellence Program, thank you very much.

Enjoy Sid, I am off to dinner with my wife and select members of the Fukuoka surfing community!

BB ,

I think you'll find the main reasoning in Regional EMPLOYMENT & training scheme .....
Is that the government helps regional employers continue to attract professionals ( such as yourself ?!? )
to regionals areas , and to decentralise the Bigger cities stranglehold on Business and its workforce .

So many companies have flourished and held together regional areas due to such programs . Obviously RC wouldn't need any incentive to stay in Torquay , as i presume its the reason you chose to work for them in the First place , seems like you have "other " issues with them , perhaps personal .

Shauno , Surfcity has always been surfcity . With the majority of Surfers migrating that way in the Early Sixties . So as long as they don't encroach on your Turf then let them f*&^ up whatever they want . As early as 20 years ago , i lost much interest in living in that area .

Southey at that time youth unemployment particularly in rural areas was off the charts and the main purpose of the scheme was to provide them with opportunities. I think there would have been quite a few young people around Torquay who would have benefited from an opportunity in the surfboard or wetsuit business. I was highly employable where I was. Then, of course, there is the principle of simple honesty. Had they clearly explained what they were doing I never would have taken the job, a large part of which came to involve either trying to stretch lines of credit beyond their reasonable limits or when that failed, finding other suppliers, for what was essentially a vanity project.

So often in these SN forums I marvel at the luxury of being able to grizzle about surfing, surf crowds, pro-surfing, "surf" industry, surf craft, etc.

Like seriously, anyone who surfs is so damn lucky in the first place. I don't get it, I just don't get it. Why worry about the small percentage of percieved negatives ?

Is your life enriched from the activity of wave riding in all its entirety , OR not ? Sometimes you guys make me wonder.

Those in the know, know how rc was funded in the early days. Many a young surfers lives were ruined because they were steered in the wrong direction, both sponsored surfers and employees, get'em high chew'em up an sptt'em out. Could be an underbelly series on Torquay in the 70's n 80's

Some of those perceived negatives as you call them had serious consequences Sid. Consider yourself lucky if you didn't have to deal with them.

Sid if I remember correctly you've had bouts of anger/grizzles when the mood suits you. Anyway a good vent is therapeutic, good for the soul. Not sure that people take it THAT seriously.

Now you two are really getting melodramatic, everyone has to take responsability for their own lifestyle choices.

Consider yourself lucky I didn't have to deal with them? bahahahahaha, I grew up at the coal face of all this stuff. Do you think Torquay was any different to Coolangatta, Surfers Paradise, or Syd. Eastern suburbs ? OR Byron Bay,? hahaha, where do you think the shit was coming in thru ? In fact, I reckon Torquay was kindergarten stuff compared to what I witnessed as a younger fella.

Aw fuck me dead, now you guys are really cherry picking.

Now BB, I presume once the penny dropped that RC gave you a gig, under a Gov.t sponsored program which you weren't aware of, you prudently returned all wages to said Gov.t ? Wouldn't want you inadvertantly, albeit innocently, recieving the proceeds of crime, now would we.? Fair dinkum, you sure you are a scouser.?

Serious consequnces ? The only thing serious here is you guys baggage. Sure some crashed and burned in such times, but plenty of others thrived and continue to do so.

Alternatively, have a look at the economic wasteland, that was/is Aireys Inlet, Lorne, or further afield, or so many other coastal locations where you can barely carve out a living. Get washing dishes and scrubbing dunnies, maybe pour a few pots on the weekend. Been there, done that.

You get cheap or free gear from mates in rc sid so that's why you love to stick up for them. But your still mullin out at your age so pull another billy and calm down.

ah, Shauny, nuthin' wrong with a little 'erb marn. Maybe you should burn a few down, couldn't hurt.

yeah, still get the odd wetty after all these years. That's where we differ, I've always found them more than generous, guess I must have approached things differently from you.

Same with Claw, you call him a kook. If so, he's the most successful kook I ever met. He ain't no fool and you can have in depth discusions with him across most any subject. He'll seem eccentric, thats his way of keeping people off his case.

Apart from the houses, he lives a moderate and disciplined life, still does his yoga stretches in the morning, loves his mal gliding, drives a chevy or jeep as always, and until recently still flew cattle class.

All your shit about him is your problem, not his.

"Retail boost pushes Rip Curl into the black"

http://www.smh.com.au/business/retail-boost-pushes-rip-curl-into-the-bla...

"Australia Post boss Ahmed Fahour has stepped down as chairman and a director of surfwear company Rip Curl".

Ten years is a pretty good stint.

http://www.theage.com.au/business/australia-post-head-ahmed-fahour-calls...

They've closed their big showroom on the Goldy. Was never a busy shop. Maybe their foreign stores are propping the whole thing up?

Being the average punter/surfer and having no inside knowledge of what goes on behind the scenes, I always regarded RC as being a grass roots company growing up. I have always gone back to there wetties since every other brand just doesn't stand up and still have some old t shirts still alive from way back when. So while the quality is still there ill still buy there stuff. Isn't that what you want?

Interesting addendum to the story a few weeks back that Ahmed Fahour had stepped down as chairman and a director of Rip Curl.

SMH have reported that he's recently sold almost 75,000 shares, and they estimate each share is worth around $40.

However this is apparently down from 2008 when he bought the shares, reportedly in the vicinity of $62 per share.

http://www.smh.com.au/business/retail/ahmed-fahour-offloads-large-rip-cu...

noting that hipsterism is all the rage.....

that's quite the haircut.

I am appalled when reading these comments, its obvious the tall poppy syndrome is alive and well amongst those readers. Claw and Brian built a company, took risks, had failures but stuck to their dream when most of us would not have the guts to do so. wouldn't you love to own a surfing company, a company that produces equipment for surfing? i would. if i had a bit of cash i would make an offer for RC.
its a terrible thing to be successful in this country and i pity those that cannot see the guts determination sweat and tears that have gone in to building a company in such a fickle niche market that is surfing. Its easy to be sheep.

easy there adam-g. don't you think that executives of surf companies can put up with a little criticism in the comment sections the way the pros have to do with full on articles not only published in surf related websites, but by the ASP themselves?

hey, Lewis Samuels started it.

adam-g. St Claw and the Blessed Sing Ding?

got a ring to it hasn't it

I'm told they have performed miracles inTorquay.

At a loss here, excuse the pun, but are Rip Curl in the habit of releasing financial results? They have no reason too, being a privately owned company.

Please explain anyone?

Still waiting on your numbers Mick;)

Good trip though
Nice one:) ;)0

And now Fairfax are suggesting Rip Curl could be floated:

http://www.smh.com.au/business/retail/profit-swells-in-favour-of-possibl...

its interesting to note that RC are making very good profits with growth....compare this to Quik,BBG,Hurley......all losing money still....hmmmm

I think its a bit sad that surfing never got a family based business ,where ownership and leadership were passed down to their kids.......

as for some of the comments on Claw and sing Ding......they have put very little back into the community here....in fact in the fight for Bells the local surfing community groups they were very silent and protected their investment in the Easter Classic...

Its sad to say that the surfing has produced a small group of famillys that have made huge amounts of money out of surfing,and are now.......???

sorry BB.......damn should have been onto it....hahha.......but the miracle of becoming.........."Nouveau Riche" has been exceeded....hehehe