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France PPR Group Buys Sports Brand Volcom

2011/5/17 17:35:00 50

Volcom, a surfer skateboard brand in Costa Mesa, recently announced that it has agreed to Acquire $607 million 500 thousand by PPR luxury group, headquartered in Paris, France.

Richard Woolkot, chief executive of Volcom brand, believes that PPR will lead Volcom brand to a new level.

The Volcom brand designs and sells surfing, skating and selling for young men and women.

Ski suit

And other related products.

Wuhrer Kurt said in a statement: "we have worked for over 20 years and are committed to stimulating a free movement of thought and expression.

PPR can bring international market knowledge, purchasing power and other professional operation technologies in product R & D, retail and other fields, so that Volcom can achieve global growth while preserving some elements of the brand itself.

PPR CEO Francois Henry Pino said in a statement that Volcom brand can be said to be one of the most satisfying global sports brands.

"We admire Volcom's brand management capability and its right.

Consumer

"Unique influence," added Francois Henry Pino, "the Volcom brand will complement and accelerate the development of the company's sportswear brand.

Puma was acquired by PPR group in 2007, focusing more on sports shoes and sportswear market.

Volcom's 2010 annual report released its $22 million 300 thousand profit and $323 million 200 thousand in revenue.

Volcom said its top executives have agreed to sell 14.4% of its shares to PPR group and said the deal will help expand the brand's internationalization.

Mitch Kumitz, senior research analyst at RobertW.Baird, an American market research firm, believes that Volcom is one of the most powerful brands in the sports market. Its main product category has been growing steadily. Its biggest opportunities lie in the skiing, swimming products and footwear series of girls and boys.

He continued: "we believe that the acquisition will have an impact on business, and PPR can help.

Volcom

Brand realizes the global potential of funds and resources. "

But Kumi Mitzi warned that the company's performance is closely related to the health of the economy as a whole, and the sports market has been hit during the recession, because its products are often expensive nonessentials.

In addition, she also stressed that Volcom's largest client, PacificSunwearofCalifornia, based in Anaheim, the United States, has been doing poorly in recent years.