Kering completes sale of Volcom brand
03/04/2019
Kering announced in early 2018 that it would sell the brand as part of its efforts to increase its focus on the luxury industry. It acquired Volcom in 2011 for $608 million.
Meanwhile, Volcom’s current management team has acquired its operating license and will continue the development of its operations in the US, France, Australia and Japan. They will do so through a newly formed operating company, to be known as Liberated Brands, in which Authentic Brands has taken a minority stake.
“For nearly three decades, the Volcom family has created one of the most iconic brands in the skate, surf and snow markets,” Authentic Brands chairman and CEO Jamie Salter said. “During the last few years, the brand has been consistently gaining traction with broader audiences around the world while staying true to its core. We could not be happier to finally get to work with this team.”
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