Billabong history

The immediate success of the product and retailer demand persuaded the Merchants to give a name to their company and to add labels inside the Board shorts in 1974.

The business continued to grow and Billabong opened its first factory, a 1,000 square-foot space in 1975.

By 1977, annual sales reached A$100,000.

In 1983, Billy International, co-founded by Bob Hurley, established Billabong in the United States, with a design and production facility located in Costa Mesa, at the center of the surfwear industry in Orange County, California.

In 1984, Billabong began to sponsor the World Final Surfing Contest, held annually in Hawaii, its largest event to date.

A 1988 license agreement established Billabong in the United Kingdom as a base for marketing and distribution throughout Europe.

The existing facility had been expanded several times to 40,000 square feet by 1989, when the company began operation of an in-house screen-printing shop.

In 1992 the company opened a specially designed and constructed, 45,000 square-foot factory and sales showroom.

In June 1998, Bob Hurley of Billy International decided not to renew his license to produce and sell Billabong apparel.

In July 2000, Billabong initiated the sale of 120.4 million shares of stock, including 11 million shares from oversubscription.

Von Zipper, an eyewear brand, was acquired in early 2001 and the acquisition of skateboarding apparel and hard-good brand Element was announced in July 2001.

The acquisition of the Kustom surf shoe brand, as part of Billabong's purchase of the Australian Gold Coast-based Palmers Surf company, was disclosed in September 2004.

The acquisition of wetsuit and technical watersport accessories brand Xcel became effective on 1 September 2007, and Jodhi Meares's former Tigerlily brand was acquired in December of the same year.

Billabong's retail expansion continued into late 2008 with the November purchase of the United Kingdom (UK)-based 13-store retail chain Two Seasons for an undisclosed sum.

Billabong only announced a single acquisition in 2009 with the purchase of Swell, a US-based online retailer of board-sports brands, for an undisclosed sum.

Billabong began 2010 with the signing of a 10-year licensing deal with popular skateboard company Plan B, and Plan B subsequently entered into a partnership arrangement with Element.

For the six months to 31 December 2011, Billabong experienced a 71% drop in net profit to A$16.097 million.

On 16 February 2012, trading in Billabong shares was halted at the company's request because of reports of a A$776 million takeover offer from TPG Capital, a US private equity firm.

The company's sale of the West 49 retail chain was announced on 4 November 2013, with fashion retailer YM Inc. identified as the buyer.