JAPAN: Volcom acquires local distributor
Youth clothing company Volcom has acquired its local distributor in Japan as part of the company's international growth strategy.
Terms of the transaction were not disclosed, with Volcom describing Japan as "a key territory" in the development of its business.
"This acquisition is a testament to the strength of our brand in Japan after working with our distributor for more than 15 years," said Richard Woolcott, Volcom chairman and CEO.
"We are excited to culminate a long-standing relationship with an opportunity to work more closely with our accounts in this important territory, while retaining our Japan-based distribution team."
Athletic clothing maker Volcom has cuts its domestic workforce by 8% after swinging to a fourth quarter loss of $8.7m....
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