‘Travel Fashion’ brand KMD riding the wave of tourism in 2023

By Zach Havard

For the first time since the global pandemic, Kathmandu, Rip Curl and Oboz have all returned to profit, cashing in on the rising drive for tourism worldwide.

All three brands operate under the KMD Brands umbrella, which, on Wednesday, revealed a first half revenue rise of 34.5 per cent to $NZ547.9 (AUD$509.5m).

“The general consumer appears to have been really resilient,” chief executive, KMD Brands, Michael Daly, told the Australian.

“I think we make products that are specifically for a purpose, whether it be surfing, whether it be a new jacket you need because of the rain or a new jacket you need for the cold so I think that helps and gives us probably a little bit more resilience or, I guess, insurance.

“So from that point of view that positions us well. We haven’t seen any obvious signs of distress, I wouldn’t say our average baskets or any or units per transaction have changed much at all to be honest.”

KMD can attribute part of their recent regrowth the increased sales to inbound tourists, as well as the increased desire of their customers to travel.

Rip Curl has witnessed continued sales growth in the last year. Kathmandu has had an impressively strong Australian recover, where as Oboz has received record sales in the first half of the financial year.

“We achieved record sales results for the group, highlighting the strength of our global brands,” Daly said.

For the first time since Rip Curl was acquired, the group has experienced a full 12 months of trade without significant interruption from the COVID pandemic, which resulted in group sales of over $1 billion.

“Despite uncertainties in consumer outlook, all three of our brands – Rip Curl, Kathmandu, and Oboz – delivered strong sales growth in the half, and as a group we have improved our gross margin.”

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kathmandu KMD Brands Michael Daly Oboz Rip Curl