“Volcom has been accounted for since 2018 as discontinued operations under the requirements of IFRS 5. The disposal will not have a material impact at Group level, either in terms of net result from discontinued operations (a non-significant capital loss) or cash flow (proceeds from disposal),” Kering said in a press release.
The current Volcom management team has acquired the operating license of Volcom and will continue the development of its operations based in the US, France, Australia and Japan.
Volcom was acquired by Kering in 2011.
A global Luxury group, Kering manages the development of a series of renowned houses: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear.
In 2018, Kering had nearly 35,000 employees and revenue of €13.7 billion. (RKS)
Fibre2Fashion News Desk – India
| On 24th Jan 2022
China’s central bank has cut the benchmark lending rate of loan prime ...
| On 24th Jan 2022
South Korea will cultivate 220 companies and 40,000 professionals...
Indonesia has allowed 139 coal mining companies to resume export...
Good tidings expected for textile industry
Always best to produce under own supervision
Increase foreign exchange and create jobs
The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), set...
Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...
EptaInks is the screen-printing division of Eptanova, a company that...
Freudenberg Performance Materials is a leading global manufacturer of...
University of Rhode Island
Assistant professor Daniel Roxbury and former URI graduate student...
Dieffenbacher India Pvt Ltd
Germany-based Dieffenbacher Group is a producer of high-quality composites ...
Label - Bani Pasricha
An Indian fashion-designer and a recipient of one of the most prestigious...
Label - Ritu Kumar
<b>Ritu Kumar</b> is the most respected designerwear brand in India...
Purple Style Labs
Late Indian fashion designer Wendell Rodricks, is known for his...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.