Volcom

Last updated

Volcom, LLC
Type Subsidiary
Industry Textile
Founded1991;32 years ago (1991)
Orange County, California
FounderRichard Woolcott
Tucker Hall
Headquarters
Costa Mesa, CA
,
U.S.
Number of locations
38
Area served
Worldwide
Key people
List
  • Richard "Wooly" Woolcott, Founder, Executive Chairman
    Brad Holman, CFO
    Todd Hymel, CEO
    Ryan Immegart, SVP Global Marketing
    Mike Aho, Creative Director
Number of employees
543 As of 31 December 2010
Parent Authentic Brands Group
Divisions Veeco Productions
Subsidiaries Volcom Entertainment, Inc.
Volcom logoOwnerElvusOmaresRetail, Inc.
Website volcom.com
Footnotes /references
[1] [2]

Volcom is a lifestyle brand that designs, markets, and distributes boardsports-oriented products. Volcom is headquartered in Costa Mesa, California, U.S. The brand is known for its trademark stone logo, its slogan True to This, and the Let the Kids Ride Free campaign. [3] Todd Hymel is the CEO of Volcom. [4]

Contents

History

1991–1995: Origins

Volcom was founded in 1991 by Richard "Wooly" Woolcott and Tucker "T-Dawg" Hall, who based the ethos of the company on their own experiences with boardsports. [5] In March 1991, the two friends went on a snowboarding trip to Tahoe, U.S., and afterward, they decided to start a clothing company. [6]

Chet Thomas was the first professional skateboarder to be sponsored by the brand. [7] In 1995, Volcom was the first action sports company to create a record label, Volcom Entertainment. [8]

1995–2011: IPO, Kering and ABG acquisitions

In April 2005, the company adopted its current name, "Volcom, Inc." Volcom became a publicly traded entity on June 29, 2005, when Wachovia Securities, D.A. Davidson and Piper Jaffray underwrote an initial public offering on NASDAQ. They priced 4.69 million shares at US$19 a share, raising a total of US$89 million.[ citation needed ]

In early 2008, Volcom made its first acquisition, taking ownership of Electric Visual Evolution LLC for US$25.3 million. [9] In early 2016, Eric Crane acquired the brand from Volcom for an undisclosed amount. [10]

On May 2, 2011, PPR (turned Kering in 2013) launched a friendly takeover offer to buy Volcom Inc. for US$24.50 a share, valuing the company at US$608 million. [11] Volcom's board unanimously backed the PPR offer, and shareholders were advised to tender their shares to the French company.[ citation needed ]

Since the takeover, Kering has sought to expand and diversify the Volcom brand. [12] The support from Kering allowed Volcom to launch its first ever closed-toe footwear line in July 2013. [13]

On April 3, 2019, Authentic Brands Group had announced it acquired Volcom from Kering. [14]

Retail

Volcom's first retail store was opened on November 23, 2002, in Los Angeles. [15] Since then, seven more Volcom stores have opened in the United States, and six more in Canada. [16]

Outside America, Volcom has numerous international retail stores including locations in Barcelona, Spain; Hossegor, Bordeaux, and Paris, France; two locations in Bali, Indonesia; Tokyo, Japan; Durban and Pretoria, South Africa; Bangkok, Thailand; London and Falmouth, England; Melbourne, Australia; Buenos Aires, Argentina; Santiago, Chile; Lima, Perú; São Paulo, Brazil; Isla de Margarita, Venezuela; Lisbon, Portugal; Stuttgart, Germany; Davos, Switzerland, Calgary, Edmonton, Vancouver, Winnipeg, and Fort McMurray, Canada, Costa Rica; Amsterdam, the Netherlands and Guam. [17]

Teams

Surfing

Street art featuring the Volcom logo. Volcomdiamant.jpg
Street art featuring the Volcom logo.

Jack Robinson

Skateboarding

Snowboarding

Volcomunity

Volcomunity is an online space for Volcom ambassadors—singers, models, and designers to blog about their lives. Natalie Suarez, Jennifer Herrema, Billie Edwards, Elle Green, Mike Correia, Stephanie Cherry, Amy Smith, Zoe Grisedale-Sherry and Hannah Logic are Volcom ambassadors. [31]

In 2012, Volcom collaborated with Volcom ambassadors POSSO for the second time. POSSO is described by the brand as "2 best friends from Northern California with a love for art, design, fashion, and music." The collection included dresses and a bikini outfit. [32]

Events

2013 Volcom Pipe Pro Event

The 2013 Volcom Pipe Pro surf competition that took place between January 27 and February 7, 2013, has been designated as a Deep Blue Surfing Event as it completed the ASP (Association of Surfing Professionals) Green Guidelines Recommendations. The event strove to reduce the environmental impacts of a professional surfing contest and to provide social benefits for the local community. [33]

2014 Volcom Pipe Pro Event

The 2014 Volcom Pipe Pro surf competition took place between January 26 and February 7, 2014, at the Banzai Pipeline with waves at 8–12 feet, and was televised on Saturday, June 7, 2014, on NBC. The competition is an ASP, WQS (World Qualifying Series) 5-Star Event with a $130,000 prize purse, and once again has been designated as a Deep Blue Surfing Event, working with Sustainable Surf, a waste diversion company. [34]

Philanthropy

Volcom created the "V.Co-logical Series" collection, whereby one percent of sales are donated to environmentally focused non-profit organizations. The company is a member of the "1% for the Planet" initiative. [35]

In 2011, Volcom collaborated with Krochet Kids International, an organization that seeks to reduce poverty. Volcom sold handmade clothes from Uganda and some of the revenue was donated to Krochet Kids International. [36]

Awards

In 2003, Woolcott was named the Surf Industry Manufacturers Association Individual Achiever of the Year. [37] In 2004, Woolcott was inducted into the National Scholastic Surfing Association Hall of Fame. [37]

In 2010, Volcom won the TransWorld Business Industry and Retail Award: “Brand of the Year”. [38] Also in 2010, Woolcott was nominated for the Entrepreneur of the Year Award at Chapman University by the Leatherby Entrepreneurship Center. [37]

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References

  1. ↑ Volcom (2012). "Frequently Asked Questions". Volcom. Volcom, VolcomLogoOwnerElvusOmares(Volcom)Inc. Archived from the original on September 5, 2012. Retrieved August 20, 2012.
  2. ↑ UNITED STATES SECURITIES AND EXCHANGE COMMISSION (2010). "Volcom, Inc". UNITED STATES SECURITIES AND EXCHANGE COMMISSION. UNITED STATES SECURITIES AND EXCHANGE COMMISSION. Retrieved August 20, 2012.
  3. ↑ "Volcom". Skateboarding.com.au. Archived from the original on August 29, 2019. Retrieved November 9, 2012.
  4. ↑ "Steris named Volcom CEO, Woolcott moves to executive chairman". business.transworld.net/. Retrieved July 26, 2013.
  5. ↑ Volcom (2012). "Frequently Asked Questions". Volcom. Volcom, Inc. Archived from the original on September 5, 2012. Retrieved August 20, 2012.
  6. ↑ "the Volcom story". volcom.com. Archived from the original on August 1, 2013. Retrieved July 26, 2013.
  7. ↑ Kailee Bradstreet (July 25, 2014). "UPSTARTS: WRECK WHEELS". TransWorld Business. TEN. Retrieved October 14, 2014.
  8. ↑ Ryan Richardson (January 28, 2012). "Volcom, the Story of the Stone". Sundance Beach . Sundance Beach Magazine. SundanceBeach.com. Retrieved August 21, 2008.[ permanent dead link ]
  9. ↑ Bellantonio, Jennifer (January 28, 2008). "Volcom to Break into Sunglasses with Buy". Orange County Business Journal . Dun & Bradstreet. AllBusiness.com, Inc. Retrieved May 14, 2011.
  10. ↑ Disko. "Volcom sells Electric brand". www.kering.com. Retrieved May 14, 2019.
  11. ↑ Landauro, Inti (May 2, 2011). "PPR Launches Tender Offer For Volcom Shares For $608 Million". Fox Business – Retail. Paris: Fox News Channel. Dow Jones Newswires . Retrieved May 14, 2011.[ permanent dead link ]
  12. ↑ Roberts, Andrew (May 2, 2011). "PPR CEO Says Volcom Acquisition Shows Scope of Future Lifestyle Deals". bloomberg.com/. Retrieved July 26, 2013.
  13. ↑ "Volcom launches footwear collection for fall 2013". shop-eat-surf.com/. Archived from the original on February 25, 2014. Retrieved July 26, 2013.
  14. ↑ "Abg Acquires Volcom". April 3, 2019.
  15. ↑ Transworld (November 27, 2002). "VOLCOM OPENS FIRST RETAIL STORE". Transworld Snowboarding. Retrieved August 20, 2012.
  16. ↑ "Stores". Volcom. Archived from the original on November 16, 2012. Retrieved November 9, 2012.
  17. ↑ "Some things art show by Apo Fousek @ Volcom SP (Brazil)". Discover. Volcom. September 20, 2008. Archived from the original on July 17, 2011. Retrieved May 14, 2011.
  18. ↑ "Stella Reynolds - Skate - Ambassadors - Volcom – Volcom US". Archived from the original on July 17, 2020. Retrieved July 14, 2020.
  19. ↑ "6. Pat Moore | 10 Well Known Snowboarders who don't have a Board Sponsor (But Totally Should) - Page 7 of 11".
  20. ↑ "Look Who's Calling Volcom Northwest Retrospect wonderboy Curtis Ciszek". X Games.
  21. ↑ "Volcom Snow IP2: Dylan Alito". November 1, 2012.
  22. ↑ "Elena Hight".
  23. ↑ "X Games Aspen 2018 Preview: Hailey Langland". X Games.
  24. ↑ "1910 Interview: Jamie Lynn and Scoph's Latest Collabh". July 12, 2018.
  25. ↑ "Interview with a Pipe Master – part 2". Red Bull .
  26. ↑ "Shrewsbury is home to one of the world's best snowboarders". Community Advocate. August 8, 2016.
  27. ↑ "Volcom's IP2: Scott Blum Full Part". October 1, 2012.
  28. ↑ "Legally Stoned - Benny Milam, Cody Warble and Reid Smith at Mt. Hood". www.msn.com.
  29. ↑ "Scotty James Joins Volcom Global Snow Team". www.methodmag.com.
  30. ↑ "Marcus Kleveland".
  31. ↑ "Natalie Suarez". volcomunity.com/. Archived from the original on August 1, 2013. Retrieved July 26, 2013.
  32. ↑ MELISSA BORDENAVE (February 27, 2012). "THE STITCH: NEW POSSO X VOLCOM COLLECTION". Active Ride Shop Blog. ASLU LLC. Retrieved October 14, 2014.
  33. ↑ "Volcom Pipe Pro -2013- Sustainability Report". SustainableSurf. 2013. Retrieved July 26, 2013.
  34. ↑ https://www.surftoday.com/environment/10465-volcom-pipe-pro-gets-green-label%5B%5D
  35. ↑ "Volcom 2013 Sustainability Update". newfuture.volcom.com/. Retrieved July 26, 2013.
  36. ↑ "Volcom x Krochet Kids Fall 2011". volcom.com/. Archived from the original on October 7, 2013. Retrieved July 26, 2013.
  37. 1 2 3 "Volcom CEO Woolcott OC entrepreneur of year". business.transworld.net/. Retrieved July 26, 2013.
  38. ↑ "Volcom and Vans claim two TW Biz awards each". surf.transworld.net/. Retrieved July 26, 2013.
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