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Volcom acquires assets of another distributor
Volcom CEO Richard Woolcott. Photo by Cari Church.
By TIFFANY MONTGOMERY
October 19, 2010 06:12 AM
October 19, 2010 06:12 AM
Volcom is continuing its strategy of taking control of its brand in key territories by announcing today it has acquired the assets of its distributor in Spain. Terms were not disclosed.
CEO Richard Woolcott said in a statement that the company has proven it can gain market share when it assumes control of the brand in other countries.
In Europe, Volcom currently sells directly in France, the UK and Switzerland.
Volcom will take over shipping in Spain in July 2011. The company said costs surrounding the transaction would add about $150,000 to fourth quarter expenses.
In July of this year, Volcom acquired its Australian licensee, and in 2008, it acquired its Japanese distributor.
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