Australian surfwear brand Billabong has been working hard to focus on core brands and cut excess baggage by disposing of weaker retailers and labels. This month the company divested its SurfStitch shares as well as its Swell.com retail platform for a reported $35 million to SurfStitch’s founders Justin Cameron and Lex Pederson. The brand has already sold off ski and snowboard accessory label DaKine, and Canadian retailer, West 49. The sales form part of Billabong’s turnaround strategy, which has been successful in stabilizing the business and reducing its losses by 73% on the previous year.

Leave a Reply

Your email address will not be published. Required fields are marked *