Volcom is a sports and lifestyle brand. It was acquired by Kering in 2011. The sale follows Kering’s decision to focus on the development of its luxury houses. The disposal will not have a material impact at the group level, either in terms of net result from discontinued operations (a non-significant capital loss) or cash flow (proceeds from disposal).

Kering manages the development of a series of renowned houses in fashion, leather goods, jewelry and watches like Gucci, Saint Laurent, Bottega Veneta, Balenciaga and Alexander McQueen. By placing creativity at the heart of its strategy, Kering enables its brands to set new limits in terms of its creative expression while crafting tomorrow’s luxury in a sustainable and responsible way. Kering is enhancing its omni-channel capabilities. Kering is working on a suite of apps, the first of which is a store experience app that enables sales associates in-store to access stock levels in real time to provide their customers with a fully personalized service. Via the app, sales associates know instantly if a specific size or color is available in-store or if it can be ordered from other stores; they can also give customized styling recommendations.