Volcom

Volcom, LLC
Subsidiary
Industry Apparel and consumer goods
Founded Orange County, California (1991 (1991))
Founder "Wooly"
(Richard Woolcot)
"T-Dawg"
(Tucker Hall)
Headquarters Costa Mesa, California, U.S.
Number of locations
 38
Area served
 Worldwide
Key people
 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 Kering
Divisions Veeco Productions
Subsidiaries Electric Holding Corporation
Volcom Entertainment, Inc.
Volcom Retail, Inc.
Website volcom.com
Footnotes / references
[1][2]

Volcom, Inc. is a lifestyle brand that designs, markets, and distributes boardsports-oriented products. The company primarily produces clothing, footwear, accessories, and related products for young men and women. Volcom is headquartered in Costa Mesa, California, United States (U.S.). Volcom 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]

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.[1] In March 1991, the two friends went on a snowboarding trip to Tahoe, U.S., and afterward, they decided to start a clothing company.[5]

Chet Thomas was the first professional skateboarder to be sponsored by the brand.[6] In 1995, Volcom was the first action sports company to create a record label, Volcom Entertainment.[7]

1995–2011: IPO and Kering acquisition

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.

In early 2008, Volcom made its first acquisition, taking ownership of Electric Visual Evolution LLC for US$25.3 million.[8]

On May 2, 2011, French luxury, sport, and lifestyle group Kering (previously known as Pinault-Printemps-Redoute and PPR until 18 June 2013) launched a friendly takeover offer to buy Volcom Inc. for US$24.50 a share, valuing the company at US$608 million.[9] Volcom's board unanimously backed the Kering offer, and shareholders were advised to tender their shares to the French company.

Since the takeover, Kering has sought to expand and diversify the Volcom brand.[10] The support from Kering allowed Volcom to launch its first ever closed-toe footwear line in July 2013.[11]

Retail

Volcom's first retail store was opened on November 23, 2002, in Los Angeles.[12] Since then, seven more Volcom stores have opened in the United States, and six more in Canada.[13]

Outside America, Volcom has numerous international retail stores including locations in Hossegor and Bordeaux, France; two locations in Bali, Indonesia; Tokyo, Japan; Durban and Pretoria, South Africa; Bangkok, Thailand; London and Falmouth, England; Buenos Aires, Argentina; Santiago, Chile; Lima, Perú; São Paulo, Brazil; Isla de Margarita, Venezuela; Lisbon, Portugal; Munich, Stuttgart, and Berlin, Germany; Calgary, Edmonton, Vancouver, Winnipeg, and Fort McMurray, Canada, Costa Rica; and Guam.[14]

Teams

Surfing

Street art featuring the Volcom logo.

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.[15]

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.[16]

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.[17]

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.[18]

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.[19]

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.[20]

Awards

In 2003, Woolcott was named the Surf Industry Manufacturers Association Individual Achiever of the Year.[21] In 2004, Woolcott was inducted into the National Scholastic Surfing Association Hall of Fame.[21]

In 2010, Volcom won the TransWorld Business Industry and Retail Award: “Brand of the Year”.[22] Also in 2010, Woolcott was nominated for the Entrepreneur of the Year Award at Chapman University by the Leatherby Entrepreneurship Center.[21]

References

  1. 1 2 Volcom (2012). "Frequently Asked Questions". Volcom. Volcom, Inc. Retrieved August 20, 2012.
  2. ↑ UNITED STATES SECURITIES AND EXCHANGE COMMISSION (2010). 2010 "Volcom, Inc." Check |url= value (help). UNITED STATES SECURITIES AND EXCHANGE COMMISSION. UNITED STATES SECURITIES AND EXCHANGE COMMISSION. Retrieved August 20, 2012.
  3. ↑ "Volcom". Skateboarding.com.au. Retrieved 9 November 2012.
  4. ↑ "Steris named Volcom CEO, Woolcott moves to executive chairman". business.transworld.net/. Retrieved 26 July 2013.
  5. ↑ "the Volcom story". volcom.com. Retrieved 26 July 2013.
  6. ↑ Kailee Bradstreet (25 July 2014). "UPSTARTS: WRECK WHEELS". TransWorld Business. TEN. Retrieved 14 October 2014.
  7. ↑ Ryan Richardson (January 28, 2012). "Volcom, the Story of the Stone". Sundance Beach. Sundance Beach Magazine. SundanceBeach.com. Retrieved August 21, 2008.
  8. ↑ 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.
  9. ↑ 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.
  10. ↑ Roberts, Andrew (May 2, 2011). "PPR CEO Says Volcom Acquisition Shows Scope of Future Lifestyle Deals". bloomberg.com/. Retrieved 26 July 2013.
  11. ↑ "Volcom launches footwear collection for fall 2013". shop-eat-surf.com/. Retrieved 26 July 2013.
  12. ↑ Transworld (27 November 2002). "VOLCOM OPENS FIRST RETAIL STORE". Transworld Snowboarding. Bonnier Corporation. Retrieved August 20, 2012.
  13. ↑ "Stores". Volcom. Retrieved 9 November 2012.
  14. ↑ "Some things art show by Apo Fousek @ Volcom SP (Brazil)". Discover. Volcom. September 20, 2008. Retrieved May 14, 2011.
  15. ↑ "Natalie Suarez". volcomunity.com/. Retrieved 26 July 2013.
  16. ↑ MELISSA BORDENAVE (27 February 2012). "THE STITCH: NEW POSSO X VOLCOM COLLECTION". Active Ride Shop Blog. ASLU LLC. Retrieved 14 October 2014.
  17. ↑ "Volcom Pipe Pro -2013- Sustainability Report". http://sustainablesurf.org/. Retrieved 26 July 2013. External link in |publisher= (help)
  18. ↑ https://www.surftoday.com/environment/10465-volcom-pipe-pro-gets-green-label
  19. ↑ "Volcom 2013 Sustainability Update". newfuture.volcom.com/. Retrieved 26 July 2013.
  20. ↑ "Volcom x Krochet Kids Fall 2011". volcom.com/. Retrieved 26 July 2013.
  21. 1 2 3 "Volcom CEO Woolcott OC entrepreneur of year". business.transworld.net/. Retrieved 26 July 2013.
  22. ↑ "Volcom and Vans claim two TW Biz awards each". surf.transworld.net/. Retrieved 26 July 2013.
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