Liberated Brands Buys Volcom Brand from Kering
Newly formed Liberated Brands buys the Volcom surf and skateboard label from parent apparel supplier Kering with Authentic Brands Group (ABG) taking a minority stake in the new company. Terms weren’t disclosed.
Liberated will have 900 employees and be headed by CEO Todd Hymel and Volcom management, which have majority ownership of the company. There are 100 Volcom stores globally and distribution of the brand in 60 countries. The Volcom brand has nine licensees, all of whom will continue their agreements under the new ownership across apparel, footwear, swimwear and accessories for skateboarding, surfing and skiing, says an ABG spokeswoman. ABG will focus on growing awareness and business development for the Volcom brand, while using the stores to expand distribution of other “complementary” ABG-owned brands to international markets, ABG said.
Volcom, founded in 1991, was acquired by Kering for $608 million in 2011.
Authentic Brands Group, Jamie Salter, CEO, 212-7640-2412, email@example.com
Liberated Brands/Volcom, Todd Hymel, CEO, 949-646-2175