ABG Acquires Volcom
Authentic Brands Group has announced it has purchased the intellectual property of Volcom from Kering.
The purchase of the skate, surf and snow brand boosts the value of ABG’s portfolio to more than $9.3 billion in annual retail sales, says ABG.
“We are thrilled to have completed the purchase of Volcom,” says Jamie Salter, chairman and chief executive officer, ABG. “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.”
Volcom offers apparel, outerwear, footwear and accessories. The brand has nearly 100 retail stores globally with distribution across 60 countries.
Through the acquisition, ABG has taken a minority stake in Liberated Brands, the newly-formed operating company for Volcom. Volcom’s current management team and Todd Hymel, chief executive officer, Liberated Brands have taken the majority stake in Liberated Brands. Volcom operations will be based in the U.S., France, Australia and Japan.
“Jamie’s commitment and conviction throughout the sale process was proof of his passion for the brand,” says Hymel. “ABG has built an impressive portfolio by being a powerhouse in brand development and marketing. Jamie and his team share our vision and excitement for Volcom’s long-term growth, and we are excited to be a part of this next chapter for the brand.”
ABG and Liberated Brands will continue to develop Volcom’s core men’s and snow businesses as well as enhance its women’s and kid’s categories in North America and other international markets. ABG plans to launch targeted digital campaigns and influencer partnerships to reach Millennial and Gen Z audiences.
“Volcom is one of the world’s most sought-after lifestyle brands by board sports enthusiasts,” says Nick Woodhouse, president and chief marketing officer, ABG. “Liberated Brands’ operational expertise combined with ABG’s brand building know-how and a global network of best-in-class partners, make an unstoppable combination. We look forward to joining forces to take this brand to new heights.”