Tougher times for Kiwi retailer KMD Brands, both here and abroad

The company's closing 21 of its global network of more than 300 Kathmandu, Ripcurl and Oboz stores.

It's looking to find 25-million dollars in savings, following a period of low sales.

KMD Brands Chair David Kirk says when households are struggling, they pull back on nice-to-haves.

He says when wallets are tight and interest rates are higher, people cut back on discretionary spending.