Surfing buddies who rode rich wave step ashore
Documents filed with the Australian Securities and Investments Commission show Mr Warbrick and Mr Singer ceased being directors of Rip Curl International last month, although they will retain a very large interest in the future of the surfwear retailer with a combined 72 per cent stake.
Both aged in their 70s, they recently abandoned a planned $400 million sale due to tough market conditions. In March Mr Singer announced he would step down as acting chief executive.
Rip Curl is chaired by Australia Post boss and former NAB executive Ahmed Fahour.
The two surfers, Warbrick and Singer, like-minded souls, were at the forefront of Australia's burgeoning surfwear apparel and equipment industry in the late 1960s and their Rip Curl boards soon became popular in a highly competitive market.
In 1970 the duo made an important change to their business model that would ultimately transform the still start-up Rip Curl into a global brand with revenues of more than $400 million a year and a loyal following of surfers from Australia to the US and beyond.
Realising the cold waters of Victoria could get in the way of a good time on the waves they decided to branch out into wetsuits, then an underserviced market.
Taking over an old house in Torquay Warbrick and Singer bought a pre-war sewing machine and, according to Rip Curl legend, cut out the rubber on the floor, handing the pieces to a machinist.
Through Rip Curl's success and expansion Warbrick and Singer remained committed to the philosophy of "The Search", the cornerstone of surfing. Making sure they weren't bogged down in endless strategy meetings and boardroom discussions the two spent a lot of time surfing and looking for the next great wave. They embarked on surfing expeditions to little-known island groups and far-flung coasts, often taking with them the surfers at the cutting edge.
In 1981 Rip Curl inked its first corporate licensee, in southern California. Today, a total of nine corporate licensees make and sell Rip Curl products in the US, France, South Africa, Japan, Indonesia, Brazil, Argentina, Peru and Chile.
Frequently Asked Questions about this Article…
Rip Curl was founded by Doug “Claw” Warbrick and Brian “Sing Ding” Singer in Torquay. The article reports both founders have stepped down as directors of Rip Curl International after a 44‑year stretch; Singer had already stepped down as acting chief executive in March.
Yes. Although Warbrick and Singer ceased being directors last month, the documents filed with ASIC show they still retain a very large combined interest — a 72% stake in Rip Curl.
The planned $400 million sale was abandoned recently because of tough market conditions, according to the article.
Rip Curl grew into a global brand with reported revenues of more than $400 million a year and a loyal following of surfers from Australia to the US and beyond.
In 1970 Rip Curl branched out into wetsuits — an underserviced market at the time — a strategic change that helped transform the start‑up into a global surfwear and equipment brand.
Rip Curl is chaired by Ahmed Fahour, who is best known as the Australia Post boss and a former NAB executive, as noted in the article.
Rip Curl inked its first corporate licensee in southern California in 1981. The article says there are now nine corporate licensees that make and sell Rip Curl products in the US, France, South Africa, Japan, Indonesia, Brazil, Argentina, Peru and Chile.
Rip Curl’s philosophy is known as “The Search,” which emphasizes surfing, exploration and staying close to the sport rather than being bogged down in boardroom meetings. The founders spent a lot of time surfing, went on worldwide surf expeditions, and involved cutting‑edge surfers in their activities.
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