Volcom sells Electric brand

Volcom, part of Kering’s Sport and Lifestyle portfolio, confirmed that it has sold the premium sportswear brand Electric via a management buyout led by Electric’s chief executive officer, Eric Crane.

Electric is a Californian premium sports and lifestyle brand, rooted in Southern California’s rich action sports, music, art and customisation culture, and sells apparel and accessories including hoodies, shirts, sunglasses, snow goggles, snow helmets, bags, and watches.

The brand was acquired by Volcom in 2008, and in 2011, became part of the Kering group, and two year’s ago the group invested significant capital in helping with a successful re-brand.

The transaction, which is effective immediately, includes all the assets of Electric and the rights attached to the brand. Financial terms have not been disclosed.

Crane was one of the original members who built the brand in its early stages and told Transworld Business that from a brand standpoint, it would be easier for Electric to tell its story “at its own pace,” without outside market pressures.

Image: Electric