Family-controlled luxury retail group PPR announced on 2 May that it will acquire sportswear brand Volcom for €410.9 million, in a further attempt to refocus PPR on the luxury and lifestyle division.
In a statement, the group said that it will buy 100% of California-based Volcom’s shares as it tries to expand PPR’s sports and lifestyle operations. It expects the deal to be completed by the third quarter of the year.
The purchase is a further example of PPR’s strategy to specialise in clothes and accessories focused on the luxury markets.
