For all of those that do not know, Skate company Volcom has been taken over by PPR, a luxury french retailer. PPR also owns fashion houses Gucci, Balenciaga and Alexander McQueen, whose creative director Sarah Burton designed the Duchess of Cambridge, Catherine Middleton's, wedding dress.
At $607.5 million this is no small deal. Volcom last year made a net profit of $22.3 million on revenue up 14 percent at $323.2 million.
Some estimated that Volcom would account for less than 2 percent of PPR's 2011 sales, which is staggering.
We here are The Ballstreet are excited to see what Volcom will have to offer in the near future, now that they have such a huge backing from a globe fashion conglomerate.
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