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Volcom to PPR Portfolio in Deal De Luxe
"Volcom surrenders to France. What kind of crepe is that?"
The sign outside Frog House Surf Shop in Newport Beach was a playful jab at Costa Mesa-based Volcom Inc. after it made headlines last May with its $608 million sale to Paris-based luxury house PPR SA.
Volcom was coming off $323.2 million in 2010 sales of clothes, shoes and accessories inspired by surfing, skateboarding, snowboarding, art and music. The company also owned eyewear brand Electric Visual LLC, which it acquired in 2008 for $25.3 million.
Volcom joined PPR's portfolio of luxury brands, including Balenciaga, Gucci and Yves Saint Laurent. Volcom is now part of PPR's sport and lifestyle group along with Puma AG, a sports shoes and apparel label.
The sale was the largest transaction involving an Orange County apparel company since Italy's Luxottica Group SPA acquired Foothill Ranch-based Oakley...