Naude left Billabong after his takeover bid for the company was unsuccessful. He was backed by private equity group Sycamore Partners .
Joining him will be former Billabong CEO Derek O’Neil as well as a number of former Billabong employees.
Terry Strumpf, Billabong’s VP of merchandising and design and president of the Xcel brand and Rob McCarty, Billabong’s senior design director are believed to have been recruited by Naude for his new venture.
Naude is highly respected in South African surfing circles and was a co-founder of Zigzag, the leading surf magazine in South Africa.
The new surf brand has not yet been named according to a report on Swellnet.