Billabong is selling its two online surfwear businesses for $35 million.
The troubled retailer is offloading Swell and its 51 per cent stake in SurfStitch to a consortium that includes the latter's founders.
Billabong will continue to supply products to SurfStitch and Swell.
Chief executive Neil Fiske says the decision to sell the online businesses came after a lengthy review, announced in February.
"With these agreements we can accelerate our investment in the online presence and digital marketing of brands such as Billabong, RVCA and Element, which will engage our core consumers and in turn benefit the wider business," he said on Thursday.
Billabong is working to cut excess baggage by disposing of weaker retailers and labels, and focusing on its core brands.
The company sold off ski and snowboard accessory label DaKine and Canadian retailer West 49 during the first half of its financial year, and flagged its intention to sell SurfStitch and Swell.
Billabong in February reported a $126 million first half loss, with the result dragged down by a combination of restructuring and refinance costs, and writedowns incurred after sales of underperforming businesses.
Billabong shares were half a cent higher at 59 cents at 1212 AEST.
