Home / Knowledge / News / Fashion / Electric Visual perfect fit for Volcom
Electric Visual perfect fit for Volcom
22
Jan '08
Volcom Inc announced it has reached an agreement on an all-cash offer to acquire privately held Electric Visual Evolution, one of the most recognized and respected eyewear brands in action sports.

Under the terms of the agreement, Volcom shall pay to Electric shareholders $25.25 million in cash upon the closing of the transaction, subject to certain indemnities and post-closing adjustments. Electric shareholders also will be eligible to earn up to an additional $21.0 million over the next three years upon achieving certain financial milestones. Electric will operate as a wholly owned subsidiary of Volcom and will be maintained as a stand-alone brand.

Known for its volt logo, Electric is a core action sports lifestyle brand. The company's growing product line includes sunglasses, goggles, t-shirts, bags, hats, belts and other accessories. Electric, which achieved net sales of approximately $23.5 million in 2007, has an established global platform which will serve as the foundation for further growth. The company was founded in 2000 by industry veterans Kip Arnette and Bruce Beach and is headquartered in Orange County, California.

“We are very excited about this partnership,” said Richard Woolcott, Volcom's president and chief executive officer. “Electric is a powerful brand with a lot of potential, and together, we look forward to leveraging each other's strengths and expertise.

“Culturally, Electric is a perfect fit for our company,” Woolcott continued. “We've known the Electric team for a long time, and we recognize they share the same passion and love for action sports as we do here at Volcom. Our companies are very much on the same wavelength, sharing similarities in product distribution, marketing efforts and a strong commitment to quality and innovation. Everyone here is stoked to welcome Electric into the Volcom family.”


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search