What is in the future for Costa Mesa based action sports company, Volcom? Big news this past week, French luxury and retail group PPR aquires Volcom for close to $608 million dollars! PPR is the parent company to Gucci, Yves Saint Laurent, Balenciaga, Alexander McQueen, and Puma. A weird mix of companies to be apart of considering none of these companies besides Puma are involved in the action sports industry. It is going to be interesting to see what kind of direction this Pairs based company has planned for Volcom. Word on the street and out in the lineup is not too positive. Local surfers and good friends think it might not be the best foot forward for the company. Saying,
"I don't want Volcom to get all oui oui and frenchie on me."
I hope that this changing of ownership turns out to be a good thing. I don't want to see one of my favorite companies get out of touch with its core customers and go an entirely different direction. PPR president says he plans on expanding the company all throughout its existing global markets and I hope it doesn't turn into a "bottom line" company. Meaning that I hope they aren't going to just think about making a profit no matter what it takes. I can see them finding more profit in other markets and downsizing or liquidating locally based headquarters. In my opinion the future does not look bright.
Pinault-Printemps-Redoute (PPR) Chairman and CEO Francois-Henri Pinault. Photo: Reuters
-Survey from Transworld Business Website
-This was the front sign at Newport Beach's Frog House on Monday after the news broke. The Frog House was the first store to ever carry Volcom product.
