KMD Brands to close 21 stores in $25m cost-saving strategy

KMD Brands, the outdoor goods retailer behind Kathmandu, Rip Curl, and Oboz, is initiating a significant business overhaul to address declining sales, which includes a minimum of $25 million in cost savings and an organizational restructure. The company plans to close 21 of its over 300 global stores as part of its strategy, according to new CEO Brent Scrimshaw.

Want More Context? 🔎