MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
PPR Chairman and CEO Francois-Henri Pinault explained in an interview why PPR bid for Volcom instead of Quiksilver, which had been rumored to be a PPR target at one time.
I also know that PPR looked very hard at DC Shoes when it was for sale during Quiksilver’s turbulent years.
Pinault told MarketWatch that PPR didn’t make an offer for Quiksilver because Quiksilver has “reached a level of maturity.”
“You need to offset the premium by growing the brand,” Pinault told MarketWatch, adding Volcom has a goal of increasing sales to $550 million by 2014 and is growing fast. “My priority was to look at a midsize brand for our portfolio. It was for me a better target financially.”
Pinault also said PPR is looking for brands in the outdoor sector to acquire, in addition to the action sports space.