Volcom sells Electric brand
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Volcom, part of Kering’s Sport & Lifestyle activities, announced today that it has sold the Electric brand via a management buyout (MBO) to a group led by Eric Crane, Electric’s Chief Executive Officer.
The transaction, which is effective today, includes all the assets of Electric and the rights attached to the brand.
Electric, a Californian premium sports and lifestyle brand that sells accessories including sunglasses, goggles and watches, was acquired by Volcom in 2008.
About Electric
Electric is a global, premium sport and lifestyle accessory brand rooted in Southern California’s rich action sports, music, art and customization culture. Electric designs and markets an extensive line of watches, sunglasses, snow goggles, snow helmets, bags, apparel and accessories throughout the globe. In 2011, Electric became part of the Kering group, a world leader in apparel and accessories.
For more information on Electric please visit: electriccalifornia.com
About Volcom
Volcom was founded in 1991 on the belief that there is a higher level of consciousness to be found within one’s self through the internal and external journeys that board-sports, music, art and film provide. The company prides itself on making quality apparel, outerwear, footwear and accessories that not only exemplify the lifestyle, but also enhance the ability to live it. By being the first to combine surfing, skating and snowboarding under one brand from inception a new future was forged and a generation of liberation was born. For over two decades Volcom has been TRUE TO THIS… the quest for Spiritual Intoxication. For more information, please visit www.volcom.com. Volcom is part of the Kering Group, a world leader in apparel and accessories which develops an ensemble of powerful Luxury and Sport & Lifestyle brands. www.kering.com
About Kering
A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Ulysse Nardin, Puma, Volcom and Cobra. By ‘empowering imagination’ in the fullest sense, Kering encourages its brands to reach their potential, in the most sustainable manner.
Present in more than 120 countries, the Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).
Contacts
Press
Floriane Geroudet +33 (0)1 45 64 66 00 floriane.geroudet@kering.com
Eloi Perrin +33 (0)1 45 64 61 72 eloi.perrin@kering.com
Analysts/investors
Claire Roblet + 33 (0)1 45 64 61 49 claire.roblet@kering.com
Andrea Beneventi + 33 (0)1 45 64 63 28 andrea.beneventi@kering.com
Website : www.kering.com
Social Media
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup