All washed up: have surf megabrands forgotten their roots?

Yesterday's announcement that iconic brand Rip Curl plans to sell-up raises the question: just what has happened to Australia's iconic surf brands? It has been well publicised that the big three surf labels - Rip Curl, Quiksilver and Billabong - have experienced shrinking sales and expanding debts. Suburban consumers have turned away from expensive surf-branded apparel. Coupled with the rise of online shopping, doubts are growing about the future viability of corporatised surf brands.