© Reuters. KERING HAS DECIDED TO SELL ITS SPORTS BRAND VOLCOM
PARIS (Reuters) – Kering (PA:PRTP) reported Friday that it had initiated a sale process of its brand of sports clothing from Volcom, specialising in surf, skateboarding and snowboarding.
The group had so far declared that it was studying all options for Volcom, the latest brand of Kering outside the luxury.
“In line with its strategy to devote himself entirely to the development of its luxury homes, the group has decided that Volcom is no longer a strategic asset and thus has initiated a sale process,” writes Kering in an opinion on the treatment of its non-current assets during the publication of its sales for the first quarter, on April 24.