If the surfwear business were a streaming soap opera, it would go like this.
Shares of Billabong and Quiksilver, the industry's biggest labels, surge to records in 2007, then crash. Gone are the days when high schools were flooded with bright graphic tees and baggy pants, and Matthew McConaughey could be seen catching a wave at Malibu Beach in knee-length board shorts. In 2011, Cali-cool surf seller PacSun begins closing down 200 stores. In 2015, Quiksilver slides into bankruptcy court.