US board sports brand Volcom has been acquired by brand management firm Authentic Brands Group (ABG) from French group Kering - which bought it in 2011 - for an undisclosed amount.
ABG’s chief executive officer, Jamie Salter, is believed to see a rebound in the action sports world that, not only pushed him to go in with Volcom management to buy the brand’s intellectual property, but also to build a platform of industry brands, which could see ABG seek more action sports deals.
Commenting in Australasian Surf Business Magazine, Salter said: “We are thrilled to have completed the purchase of Volcom. For nearly three decades the Volcom family has created one of the most iconic brands in the skate, surf and snow markets.
“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.”
ABG is a brand development, marketing, and entertainment company, which owns a portfolio of global entertainment and lifestyle brands, and is headquartered in New York.
The American company currently operates a portfolio of some 50 brands, including Airwalk, Juicy Couture, Frye, Prince, Hind and Tretorn. Last October, the group acquired a majority stake in Camuto, having already bought Nautica in March 2018.