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Details on Industry Insight.
We asked Duke Edukas, co-owner of Surfside Sports, for his thoughts on the potential PPR acquisition of Volcom.
Surfside, one of the most influential retailers in the industry, was one of the first shops to carry Volcom.
Here are Duke's thoughts:
"I've been thinking for quite some time about the changing landscape of our industry. Not just in the U.S. but globally as well. 'How the heck does a company compete globally?' I asked myself.
"A company like Volcom has to compete with competitors like Nike, VF, Billabong. The people at Volcom must have been asking themselves the same question.
"I think it's a good thing for Volcom in the global arena. Our industry is getting bigger and bigger. Things are changing, and evolving at such a pace that we are constantly in a state of perpetual motion. Big picture, Volcom should become more powerful than it already is.
"Will retailers prosper from this sale? Will Volcom be able to maintain their core image within our industry? Will the PPR people allow Volcom to operate under a similar business model in respects to distribution, lifestyle, and authenticity that they have in the past? Only time will tell.
"Vans and Reef certainly didn't get hurt by their acquisition by VF. Hurley has done nothing but grow after the NIKE buy out. And, all the companies under the BBG (Billabong) umbrella seem to be doing quite well. Retailers have also prospered during all of this.
"We were a part of Volcom from the very beginning. I have fond memories of Wooly and Tucker coming into Surfside and sharing their dream with me. Rene Woolcott (Richard's father) would come in and talk to me about how I felt the brand was progressing.
"I'm a little saddened that that era is over, but things change, and change is good! Right? I can't even relate to the PPR people, but I can relate to Wooly, Tucker, J-Dog, and Ruiz."