As early as spring 2018, the luxury goods group Kering was looking for a buyer for its Volcom skatewear, snowboard and surf brand. Now the sale is closed. Authentic Brands Group (ABG) has been the new owner of Volcom since 1 April.
With the purchase, ABG, which also owns Nautica, Juicy Couture and Aeropostale, now owns almost 100 Volcom retail stores around the globe.
"For nearly three decades, the Volcom family has created one of the most iconic brands in the skate, surf and snow markets,” ABG chairman and CEO Jamie Salter said in a statement. “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.”
According to ABG, Volcom's goal is to launch digital campaigns tailored to the target group and to find suitable influencers.
“ABG has built an impressive portfolio by being a powerhouse in brand development and marketing. Jamie and his team share our vision and excitement for Volcom’s long-term growth, and we are excited to be a part of this next chapter for the brand,” said Volcom CEO Todd Hymel.