>> Continued From the Previous Page <<
By October 2023, Rip Curl had quietly cut ties with Hamilton – walking away from the final three years of her contract.³
Then, just months later in January 2024, Rip Curl proudly featured transgender surfer Sasha Lowerson in their “Meet the Local Heroes of Western Australia” campaign.⁴
The optics couldn’t have been worse.
The brand that once spotlighted a real female athlete who overcame a shark attack now showcased a biological male competing against women.
The backlash was immediate.
Customers Torch Their Gear in Protest
Surfers in Australia – Rip Curl’s most loyal base – made it crystal clear what they thought of the company’s decision.
Videos went viral of customers setting fire to their Rip Curl board shorts, wetsuits, and t-shirts.
The phrase “Go woke, go broke” took on new life as a rallying cry against the brand.
One father filmed himself burning his collection of Rip Curl shorts, sending the message loud and clear: stand with ideology instead of women, and you’ll lose the people who built your business.
And lose them they did.
$82.9 Million Loss Sends Shockwaves
Rip Curl’s parent company, KMD Brands, just revealed the financial damage – and it’s worse than anyone expected.
The company reported a staggering $82.9 million loss for the fiscal year.¹
This marked the worst results in more than a decade.
Even more embarrassing, Rip Curl actually saw revenue climb by 1%. But while more money flowed through the register, mismanagement and alienation of their customer base turned it into a historic loss.²
In other words, they made sales – but lost the very heart of their business.
Stores Close, Investors Burned
The fallout is spreading fast.
KMD Brands announced it will shutter 21 stores across its global footprint, most outside of Australia.³
Investors are furious. Shareholders haven’t seen a dividend since 2023, and leadership is now talking about “carefully managing capital” – corporate code for survival mode.
Bethany Hamilton Still Standing Strong
Meanwhile, Bethany Hamilton hasn’t wavered.
She continues to inspire millions with her story of faith, courage, and perseverance. She spoke up for women’s sports even though it cost her lucrative sponsorships.
The contrast is clear: Hamilton stood on principle and still commands respect. Rip Curl, on the other hand, bowed to political fads and now bleeds cash.
Lesson for Corporate America
The story here is bigger than surfing.
It shows what happens when corporate executives insult their customers by elevating politics over performance.
Rip Curl was built by serious surfers – athletes, coaches, parents – people who understand competition and value fairness. They didn’t sign up for gender ideology lectures.
When the company chose virtue signaling over its base, it sent a direct message: “Your values don’t matter.”
Customers responded by walking away – and taking $82.9 million with them.
The warning to other companies is obvious.
“Go woke, go broke” isn’t a slogan. It’s a business reality.
