An analyst in Citigroup's Australia office believes Billabong International Ltd. could sell its namesake brand, RVCA and Dakine for $103.69 million.

Craig Woolford said Costa Mesa-based RVCA alone could go for about $50 million.

Billabong bought RVCA in 2010 for an estimated $30 million.

Oregon-based Dakine was acquired in 2008, with some reports pegging the acquisition price at around $100 million.

Billabong International has only confirmed that it is exploring a sale of its Canadian retail chain, West 49, which it bought in 2010 for $93 million.

The update on West 49 came earlier this month after Billabong International said that talks with two groups, including one led by its former Americas President Paul Naudé, had officially ended, and it was now looking into refinancing and asset sales.

Billabong International lowered its guidance on earnings before interest, taxes, depreciation and amortization for the 12 months through June to be between $65.4 million to $72.2 million compared with earlier EBITDA guidance in the range of $72.2 million to $82.9 million.