Kering: finalises sale of Volcom
(CercleFinance.com) - Kering has announced that it has finalised the sale of the American sport and lifestyle brand Volcom to the US company Authentic Brands Group (ABG).
"The current Volcom management team has acquired the operating license of Volcom and will continue the development of its operations based in the US, France, Australia and Japan," Kering said.
The luxury goods group acquired Volcom in 2011. "The sale follows Kering's decision in 2018 to focus on the development of its Luxury Houses, establishing its status as a leading pure player in the sector," Kering added.
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"The current Volcom management team has acquired the operating license of Volcom and will continue the development of its operations based in the US, France, Australia and Japan," Kering said.
The luxury goods group acquired Volcom in 2011. "The sale follows Kering's decision in 2018 to focus on the development of its Luxury Houses, establishing its status as a leading pure player in the sector," Kering added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.