l: Ksubi was founded in Australia in 1999, but until recently, it mostly operated in the US market. Last year, you brought the brand back to Australia, opening bricks-and-mortar stores in Sydney and Melbourne. What has the customer response been like?  Craig King: The response has exceeded expectations, both stores are ahead of their targets to date. What’s possibly more pleasing is the energy from the customers coming into the stores. There are customers from ‘back in the day’ excited to walk into a Ksubi store again, and there are the next generation who have been following us closely on social media, getting a taste of what we have been delivering in overseas markets. IR: It’s no secret that it’s been a tough year for retail, especially for those selling discretionary items like fashion. How did the macroeconomic environment affect Ksubi in 2024, and what strategies did you deploy in response? CK: I wouldn’t say we did things differently; more I think we looked at what things are going to move the needle and focused on delivering them as best we could. In accessing these areas, we were also cognisant of what makes Ksubi different and giving customers a reason to buy Ksubi over a competitor brand. Those things that were deemed ‘nice to haves’ probably got parked for now. We certainly ran the ruler over what’s driving sales and made sure there was enough recourse and focus there to deliver an experience for our customers. IR: What is the role of stores in the Ksubi business, and how do you ensure you’re offering a consistent experience across stores, online and wholesale? CK: Bricks-and-mortar is still the best way to present a brand experience. You get to control an environment, the offering, the layout, the level of light, sound, smell and, most importantly, the service and experience your customers have.  One of our key strategies of 2024 was to reset Ksubi back at home and the fastest and best way to do that was with a 360-degree experience. Your own stores, DTC and wholesale combine to build your brand’s ecosystem. We focus a lot on making all those touchpoints feel as ‘Ksubi’ as possible. Obviously, we can control bricks-and-mortar and DTC closely. There are greater challenges with wholesale, and we have pulled out of major accounts historically when we thought the presentation wasn’t meeting our expectations on brand or positioning. IR: How do you see customer expectations continuing to evolve when it comes to unified retail in the years ahead? Are you planning to invest in any new technology, features or services in this space in the next 12 months? CK: First of all, we focus on our brand and customer and try not to get too distracted by the myriad software offerings in the market. Something that comes through clearly is that we are all bombarded with feeds every day. Our best way to cut through the noise is to have the most customised one-on-one experience with our customer and that, and the tech to enhance it, will be our focus in the near future. IR: As a denim and streetwear brand, Ksubi has a long track record of collaborating with musicians, artists, athletes and other cultural figures. How do you measure success in this area, especially given the increasingly noisy advertising market? CK: That is a good question – not sure there’s a simple answer, as the effectiveness of collabs is changing. I can tell you that they aren’t a one-size-fits-all. They probably fall into two key categories now: positioning or commercial. Rarely do they tick both boxes. Both can have a positive impact on a brand and one is clearly more measurable than the other. We take a medium-term view to balance out our objectives over time with the mix of the two. IR: International expansion seems to be top of mind for many Australian brands right now. Given your experience in the US market, what are the most common mistakes Australian retailers make when entering new markets? CK: The big two are not knowing the customer and not knowing the competition. If you are successful in Oz to the point of thinking about other regions, then you know the Oz market pretty well. That’s not necessarily the case when you head to another country. What you are great at here may not be in high demand there, or there might be an incumbent that’s very strong in your area. The best approach is to analyse your online sales to that region and understand the level of demand and what they are picking up on. It takes time, effort and investment and you still have to run your domestic business – the grass isn’t always greener.   IR: Do you see any opportunities to expand Ksubi’s global presence in 2025?  CK: We are always looking at opportunities but we tend to be cautious. IR: In general, what’s your view on investing in growth versus minimising risk during periods of low consumer sentiment? CK: I’m not sure there’s a general answer, as all companies are in different stages of their life cycle. Are you looking to grow, solidify, invest or cash up? I can say one thing is consistent: When money is hard to earn, be maniacal on costs, regardless of your situation. IR: You recently named Pip Edwards the creative director of Ksubi. Can you share the overarching vision for the brand that you’ve discussed with her? CK: We both feel the brand, although 24 years old, still has so much untapped potential. We have seen triple-digit growth in places as obscure as South Carolina in the US and also right here in Sydney. We are excited to build a world-class brand based in Australia that connects with people everywhere. IR: I know you’re a self-taught retail leader and that you have high expectations of your team. How do you attract and retain top talents in the business, and what impact do they have on the success of Ksubi? CK: In a word, culture. If you build that into your four walls, it’s somewhat self-governing. To do that though, you have to know what you are looking for (hungry, humble and smart) in a hire and you have to be honest with yourself when you get it wrong and make the change respectfully. If everyone is rowing in the same direction, business flows, the group benefits and good things happen. It’s also easy to identify those who aren’t aligned and in those circumstances, it’s better for them to find a company that better suits their needs – everyone wins. IR: What do you expect your biggest challenges to be in 2025? CK: Finding a replacement for “Yellowstone”.