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Electric Visual perfect fit for Volcom
22 Jan '08
3 min read
“We believe this partnership will enable us to take the Electric brand to the next level,” said Bruce Beach, co-president and chief executive officer of Electric. “We are very excited about working closely with the Volcom team to grow our existing eyewear business and further expand into new product categories. Additionally, this partnership will enable us to grow our retail relationships and to continue to strengthen our operational capabilities.”
“Volcom has an amazing team and an incredible heritage in the action sports industry,” said Kip Arnette, co-president and chief design officer of Electric Visual. “We could not have hoped to partner with anyone more capable on an operational level and more in-line with us culturally, than Volcom.”
The acquisition, which is expected to be earnings per share neutral in 2008, expands Volcom's leadership in action sports and provides important product diversification opportunities. According to a 2006 SIMA Retail Distribution Study, sunglasses are viewed as the most important accessory category by retailers.
Electric currently sells 29 sunglass styles in 213 SKUs under three core price-point categories as well as 6 snow goggle styles in 63 SKUs. The company has maintained careful, controlled product distribution in core action sports, lifestyle, sporting goods and sunglass specialty stores.
Electric Visual Evolution LLC, With sunglass and snow goggle design inspired from the surf, skate, snow and music markets, Electric Visual has risen to become the leader in its category.
“Volcom has an amazing team and an incredible heritage in the action sports industry,” said Kip Arnette, co-president and chief design officer of Electric Visual. “We could not have hoped to partner with anyone more capable on an operational level and more in-line with us culturally, than Volcom.”
The acquisition, which is expected to be earnings per share neutral in 2008, expands Volcom's leadership in action sports and provides important product diversification opportunities. According to a 2006 SIMA Retail Distribution Study, sunglasses are viewed as the most important accessory category by retailers.
Electric currently sells 29 sunglass styles in 213 SKUs under three core price-point categories as well as 6 snow goggle styles in 63 SKUs. The company has maintained careful, controlled product distribution in core action sports, lifestyle, sporting goods and sunglass specialty stores.
Electric Visual Evolution LLC, With sunglass and snow goggle design inspired from the surf, skate, snow and music markets, Electric Visual has risen to become the leader in its category.
Volcom Inc
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