Luxury Cloud Group Sells Its Sports Brand Electric

France

Group Kering SA (KER.PA) Co., Ltd. Kai Yun group issued a statement on Wednesday announcing the sale of its flag.

Electric, the brand management carried out MBO on the brand.

The California sports brand Electric, founded in 2000, was incorporated into the Kering SA Open Cloud group in 2011 when it acquired Volcom.

MainFirst Bank AG analyst John Guy estimates that the brand sold $25 million in 2015, which is unprofitable for Kering SA.

Kering SA opened the cloud group last year and sold its smaller sports brand Tretorn to Authentic Brands Group. In 2014, it also announced the joint operation with the professional surfer Kelly Slater of the United States to create the latter personal brand.

At present, Kering SA opens the cloud group sports lifestyle pillar brand for German brand Puma SE (PUMG.DE) Puma, 2015, including Puma SE

The Kering SA group's revenue in sport and lifestyle sectors recorded a comparable increase of 5.9%, a real increase of 13.5% to 3 billion 682 million 500 thousand euros, of which Puma SE, Puma group sold 3 billion 387 million 600 thousand euros.

For this paction, the industry believes that in the case of the group's main profit pillar brand Gucci Gucci's lack of profitability, Kering SA Kai Yun group will re comb the small brands that are not profitable.