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Authentic Brands Group Is Betting On the Skate Market With Volcom

Authentic Brands Group continues to diversify its portfolio.
The brand management firm announced today that it has snapped up Volcom, which was previously owned by French luxury group Kering SA. ABG will own the intellectual property rights for Volcom, while the brand’s management team will continue to operate it.
The skatewear label boasts nearly 100 stores across the world and distribution in 60 countries, with 45 percent of sales driven by international customers. ABG now values its portfolio at more than $9.3 billion in annual revenues.
“For nearly three decades, the Volcom family has created one of the most iconic brands in the skate, surf and snow markets,” ABG chairman and CEO Jamie Salter said in a statement. “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.”
As part of the agreement, ABG has taken a minority stake in Liberated Brands, the newly formed operating company for Volcom, to leverage its range of owned and licensed lifestyle, celebrity and entertainment brands, including Frye, Juicy Couture, Elvis Presley and Marilyn Monroe.
Volcom CEO Todd Hymel and its management

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Via:: https://footwearnews.com/2019/business/mergers-acquisitions/authentic-brands-group-volcom-acquisition-kering-1202767129/