Kering completes sale of lifestyle brand Volcom

Kering has finalized the sale of its sports and lifestyle label, Volcom, to Authentic Brands Group. The transaction, effective April 1, 2019, grants the new owners all intellectual property rights associated with the brand.

Under the terms of the deal, Volcom’s existing management team has secured the operating licenses for the brand. The team will continue to manage day-to-day operations across Volcom's existing markets in the United States, France, Japan, and Australia.

Kering acquired Volcom in 2011 but initiated the sale as part of a 2018 strategic shift to prioritize its luxury houses. The company confirmed that the disposal, which has been accounted for as a discontinued operation, will have no material impact on the group’s overall profitability or cash flow.