In 2011 the French acquired Volcom for 608 million euros
Luxury group Kering seeks buyer for skater brand Volcom
The French group Kering, to which Gucci and Yves Saint Laurent belong, is selling its skatewear label Volcom. The luxury company will pursue a new strategy in the future.
Volcom will probably get a new owner soon. The French luxury group Kering recently announced that it had taken its first steps to sell the skatewear label.
Volcom is Kering's last remaining non-luxury brand, including Gucci, Balenciaga and Yves Saint Laurent. The company acquired Volcom in 2011 for $608 million. Now, however, it is changing its strategy and only wants to concentrate on its high-end, high-margin labels.
"In line with Kering's strategy to focus entirely on the development of its luxury homes, Volcom is no longer a core brand, so Kering has initiated a sale process," said Kering. The French are also preparing to spin off Puma.