KMD Brands
KMD Brands, formerly Kathmandu Holdings, is a global outdoor, lifestyle and sports company consisting of three iconic brands: Kathmandu, Rip Curl and Oboz. A Certified B Corp, Kathmandu was founded in 1987 in New Zealand and specialises in quality clothing and equipment for travel and adventure. Oboz, part of the group since 2018, is based in North America and designs ‘True to the Trail®’ outdoor footwear to help people explore the wilderness. Rip Curl, acquired in 2019, is a leading global surf brand born in Bells Beach, Australia in 1969. Through these three brands KMD Brands has  transformed from a leading Australasian retailer to a brand-led global multi-channel business. History. Kathmandu was founded by John Pawson and Jan Cameron in 1987 following their sale of the ALP Sports Clothing label. The company set up its first retail outlets in Australia whilst manufacturing most of its original clothing range in New Zealand. Bernard Wicht, owner of Alpine Accoutrements, had been the main manufacturer for ALP Sports but continued to manufacture for Kathmandu and also partnered with Penny Hazard to set up the Bivouac chain of stores in New Zealand. In 1992 Kathmandu, having established a strong  operation in Australia (with stores in Sydney, Melbourne, Brisbane and Canberra) re-entered the New Zealand retail marketplace, purchasing Alps Sports from its receivers and brought Bernard Wicht in as the third shareholder joining the two existing shareholders John Pawson and Jan Cameron and cheesbelass The company was acquired in 2006 by Quadrant Private Equity for NZ$275 million, after Cameron had previously sold the other half of her business. Wicht was the owner of both the Fairydown and Macpac brands until 2015. Kathmandu was listed on the Australian and New Zealand stock exchanges in November 2009. From 2017, Kathmandu is  the naming right sponsor for the Coast to Coast race in New Zealand. Kathmandu announced the purchase of Oboz Footwear in March 2018. Oboz is an outdoor footwear brand based in Montana, U.S., which shares similar values of sustainability and product innovation with Kathmandu, as indicated by Oboz's support of charities like Trees for the Future and Small Woods, which both advocate for sustainable forestry. In February 2019, Kathmandu launched a new content series in partnership with National Geographic, "Eco Traveller". The series explores eco-friendly travel and sustainable tourism. "Eco Traveller" is hosted by Nick Saxon from National  Geographic. In October 2019, Kathmandu announced that it had entered into a binding agreement to buy 100% of Australian surf brand Rip Curl for A$350m. In March 2022, Kathmandu Holdings was rebranded KMD Brands. Wage subsidy controversy. Like other businesses operating in New Zealand, Kathmandu received sizeable financial support from the New Zealand government in the form of wage subsidies for its employees across New Zealand. This was part of a wider policy of economic stimulus for large and small businesses following the COVID-19 outbreak and the resulting downturn in the economy. As part of this programme, Kathmandu  Group received $6.2 million from New Zealand taxpayers in 2020. However, despite subsequently posting a profit of NZ $31.5 million, Kathmandu management refused to repay the funds even though the company had enjoyed a profitable year. This decision was condemned on both sides of the political spectrum in New Zealand with the two major parties describing it as unfair. Kathmandu's decision was also labelled as an example of the "waste" and "fraud" in the wage subsidy scheme treasury had earlier warned of.