The “get woke, go broke” curse has claimed another corporate victim — and this time it’s a global retailer that thought pushing gender ideology would somehow pay off.
Kathmandu Holdings, also known as KMD Brands, has just posted its worst financial loss in ten years, according to the U.K.’s Daily Mail. The New Zealand-based company reported an $82.9 million hit after consumers revolted against its decision to highlight a so-called transgender surfer in its Rip Curl advertising campaign.
The Dylan Mulvaney Effect Strikes Again
Americans remember how Anheuser-Busch collapsed under a nationwide boycott when it placed transgender influencer Dylan Mulvaney on Bud Light cans. Sales plunged nearly 30 percent in just one week, Fox Business reported, and the brand has never fully recovered.
That disaster should have been a warning. Yet Rip Curl followed the same playbook, placing biological male Sasha Lowerson in a women’s surf campaign. The backlash was immediate, especially in Australia, where many longtime customers swore off the brand.
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