After a serious NO to Paul Naude’s efforts to buy Rip Curl it looks like Rip Curl owner KMD Brands just might be rethinking their whole “stick it out together” strategy, according to story on Australian Financial Review.
KMD Brands, owner of Rip Curl and Kathmandu, will consider all options, including a potential break-up of the business, in a sweeping review of the struggling retailer. . . The review, announced on Wednesday by recently appointed chairman Philip Bowman, marks a shift in tone for the company, after it spurned merger interest just four weeks ago and said it planned to retain its core brands.
As we’ve mentioned before, saying no to Mr. Naude rarely goes well. It will be interesting to see how this all sorts out.
[Link: Financial Review]
