17 Mar Puma Parent Sells Electric Brand
Kering, the parent of Puma and Volcom, has sold the Electric accessories brand through a management buyout to a group led by Eric Crane, Electric’s chief executive officer.
The transaction, which is effective Mar. 16, includes all the assets of Electric and the rights attached to the brand.
Electric, a Californian premium sports and lifestyle brand that sells accessories including sunglasses, goggles and watches, was acquired by Volcom in 2008. Volcom and Electric were acquired by Kering, formerly PPR, in 2011.
Electric is a global, premium sport and lifestyle accessory brand rooted in Southern California’s rich action sports, music, art and customization culture.