This chapter utilizes the social theories of identity, authenticity, subculture, and hegemony to explain how and why the surf industry has managed to attract a customer base that is far larger than surfing’s participant base. It suggests surfing’s aspirational appeal is a key driver of consumer demand and, because of this, surf brands place a high emphasis on demonstrating the authenticity of their links to the subculture. From the consumer perspective, the chapter considers how surf culture appeals to the personal and group identity needs of the consumer and how emerging demographic trends could challenge the cultural hegemony. This chapter also introduces a new theoretical construct, called subcultural power, which recognizes the relative value of a subculture’s aspirational appeal that affords it the ability to attract its share of mainstream societal interest.