Rip Curl is riding the right wave
At Rip Curl, the founders are still at the helm despite some very turbulent times at the beginning of the 2010s. Brian Singer and Doug Warbrick, who founded the surfing brand 45 years ago in Torquay, Australia, still own nearly three quarters of the company's shares.
Like its rivals Quiksilver and Billabong, Rip Curl has particularly suffered these last few years and underwent restructuring. At the end of 2012, the brand shifted to a more technical focus, deliberately eliminating several categories of products.
And the choice seems to have paid off. For its 2013-14 financial year, which closed at the end of June, the company shows 300 million euros (430 millions Australian dollars) in sales. Or a 7.8% increase over one year, according to the numbers submitted by the Group. Its net result is up 63%, at more than 16 million euros.
According to Brian Singer, quoted by the daily newspaper The Australian, the Group has seen good results "especially in the United States, Indonesia, Brazil and Australia."
The Group is counting on a 35% growth in its profits for the current financial year.
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