Kathmandu and Rip Curl owner KMD Brands will close at least 21 stores and has replaced some key executives as part a transformation strategy that includes cutting $25 million in annual costs.
The dual-listed company, which also owns the Oboz Footwear brand, said it was reviewing its global portfolio of more than 328 company-owned Kathmandu and Rip Curl stores and had already identified 21 for closure.
