Rip Curl on a Roll
Rip Curl posted strong results for the six months ended Jan. 31, according to new parent company Kathmandu.
“Rip Curl achieved substantial sales growth in key global markets despite COVID-19 disruptions,” Kathmandu said.
Rip Curl’s DTC business (stores plus online) was the star, rising 21% when stores that were closed due to lock downs are excluded.
When store that were closed are included in the calculation, DTC sales rose 7.4%. That’s an impressive result considering Rip Curl stores in Hawaii, Bali and Europe are still severely impacted by the pandemic.
Rip Curl wholesale sales declined 15% during the six month period. The company said orders were negatively impacted because the sell-in period happened during the height of the pandemic.
However, forward orders for Rip Curl’s wholesale business are above pre-COVID levels, Group CEO Xavier Simonet said.
“Rip Curl’s record first half performance highlights the strength of its brand and quality technical products,” he said. “Rip Curl’s direct to consumer business will now begin the Northern Hemisphere summer with strong momentum.”