Billabong International Limited is a surf company, primarily a clothing retailer that also produces accessories, like watches and backpacks and skateboard and snowboard products under other brand-names. Founded in 1973 by Gordon and Rena Merchant, the company first traded on the Australian Securities Exchange in 11 August 2000. The name "billabong" is derived from the Wiradjuri word "bilabaŋ" that refers to a "creek that runs only during the rainy season". As of September 2013, Von Zipper, and Element are two of the prominent brands that Billabong owns. Honolua Surf Company, Kustom, Palmers Surf, Xcel, Tigerlily, Sector 9 and RVCA are the company's other brands. From late 2012 onwards, following the company's decline in the period since 2008, Billabong International has been the subject of a protracted bidding process in which the company's former United States chief Paul Naude has been a participant. In the past 2 years, Billabong has used a corporate turnaround strategy to return the company to profitability, which it achieved in 2014.