×
63
Fashion Jobs
RITUALS
Area Manager, Syd
Permanent · Stockholm
H&M
SEO Specialist Global Media Team - h&m Marketing & Communication
Permanent · Stockholm
H&M
Product Compliance Specialist Within Physical Properties
Permanent · Stockholm
H&M
Product Labelling Specialist, Global Product Compliance Department
Permanent · Stockholm
H&M
Business Controller to Assortment
Permanent · Stockholm
H&M
Product Compliance Coordinator For Cosmetic And Chemical External Branded Products
Permanent · Stockholm
H&M
Buying Student Placement Fall 2020
Permanent · Stockholm
H&M
Art Buyer | h&m Studios
Permanent · Stockholm
H&M
HR Specialist h&m - Health And Work Environment
Permanent · Eskilstuna
H&M
HR Generalist h&m
Permanent · Eskilstuna
H&M
Head of Compensation & Benefits at h&m Group
Permanent · Stockholm
H&M
Responsible ai Specialist
Permanent · Stockholm
HOLLISTER CO
Assistant Manager (Manager in Training) - Hollister Gallerian - Full Time
Permanent · STOCKHOLM
H&M
Fashion or Print Design Internship 2020 – 21 (For 2020 Graduates Only)
Internship · Stockholm
H&M
Content Responsible h&m Backstage For h&m Marketing & Communications
Internship · Stockholm
HOLLISTER CO
Assistant Manager (Manager in Training) - Hollister Emporia - Full Time
Permanent · MALMÖ
H&M
Integration Solution Lead
Permanent · STOCKHOLM
H&M
Customer Service Agent - Finnish
Permanent · Borås
H&M
External Brand Coordinator
Permanent · Stockholm
H&M
External Brand Expansion Coordinator
Permanent · Stockholm
H&M
Print Design Assistant - h&m Home
Permanent · Stockholm
H&M
Product Designer - h&m Home - 6 Months Fixed Term Contract With The Possibility of Prolongation - From February 2020
Fixed-term · Stockholm

Kering sells Volcom to Authentic Brands Group

Translated by
Erin Floyd
Published
today Apr 2, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Just a year after Kering announced its intention to sell Volcom, the skate label has been acquired by Authentic Brands Group. Kering’s story with the American brand has not lasted very long, as the French group bought it in 2011. 


DR


Since then, Kering has decided to focus on its luxury division, and in the meanwhile, a good number of board sports brands are undergoing identity crises with varying degrees of success. As far as accounting goes, Volcom was relegated to “abandoned activities, in accordance with IFRS 5,” according to the French group’s results.

Volcom’s results, impacted by headwinds, still account for a considerable portion of the turnover. In 2017, its turnover was 230 million euros, down 3.2% at constant currencies, compared to 242 million euros in the prior year. Its operating income was stable.

Last June, Volcom appointed Jeffrey James “JJ” Gonzales as creative director of its men’s ready-to-wear division. The designer, who has been collaborating with Volcom for the last 16 years, has distinguished himself for his work on denim, as well as on the brand’s more traditional pieces, such as swimshorts.

As for Authentic Brands Group, the American company currently operates a portfolio of some 50 brands, including Airwalk, Juicy Couture, Frye, Prince, Hind and Tretorn. Last October, the group also acquired a majority stake in Camuto, having already bought Nautica in March 2018. Over the course of the last fiscal year, the group achieved revenues of $9.3 billion, half of which came from international sales. The company’s current objective is to hit $10 billion by 2020.

Authentic Brands Group's acquisition of Volcom was effective April 1, Kering said.  
 

Copyright © 2019 FashionNetwork.com All rights reserved.