Industry: Is Volcom on the block?
One-time surfwear giant maybe for sale soon!
As just recently reported by Business of Fashion and Boardistan, the French luxury conglomerate Kering has contracted illuminati bank Rothschild to sell German footwear manufacturer Puma, seeking a reported 7 billion dollars in return. What a mouthful! And why should we care? Well, the reasoning behind the proposed sale is that Kering, which owns Gucci, St. Laurent, Al McQueen, et. al. desires to get out of the athletic/streetwear game so it can focus solely on being fancy.
And what does this mean for Volcom, which the group purchased in 2011 for 600 million dollars? Will it be floated back on the market as well?
Ooooh let’s wonder!
I think probably yes and I think Oaktree Capital may purchase. Oaktree, in case you forgot, owns Billabong’s debt and Quiksilver. There have been rumors this year that the asset management firm might want to buy Rip Curl. If if if it did and if it bought Volcom too then do you think the United States government would come in and bust up the monopoly because of its vast surf power or do you think the United States government would scratch its head and say, “Ummmmm why are you doing this to yourself?”
How much do you think Volcom is worth?
How much would you buy it for?
What if, as part of the sale, Noa Deane and Mitch Coleborn would come and play lullabies for you each and every night?