KMD Brands reports sales decline, Oboz hardest hit

Thu, 19 Jun 2025

KMD Brands, the parent company of Kathmandu, Oboz, and Rip Curl, has reported a decline in sales for the 10 months to the end of May 2025.

The group had a 0.5% increase in total sales, but this was mainly driven by Kathmandu's 3% growth and Rip Curl's 0.1% increase.

Oboz, on the other hand, experienced a 6.3% decline in sales.

In the second half of the financial year, KMD Brands continued to face challenges, with a 1.9% decrease in group sales.

Kathmandu's sales were particularly affected, dropping 6.4%.

However, the company said there was a 13.2% increase in direct-to-consumer sales for Kathmandu in the first 17 days of June, which improved the year-to-date sales to 0.3% above last year.

KMD Brands expects its underlying ebitda for the financial year to be in the range of $15 million to $25m, with net debt projected to be approximately $70m.