François-Henri Pinault at the Kering press conference

PARIS — Kering has begun taking steps to sell action sports brand Volcom to focus fully on the group’s luxury labels.

“In accordance with Kering’s strategy to fully dedicate itself to the development of its luxury houses, Volcom no longer constitutes a core asset and Kering has initiated a disposal process,” the company said in a statement.

Kering acquired Volcom, an action sports brand, in 2011. One of the less visible brands at Kering, Volcom in 2016 off-loaded its Electric eyewear brand.

The group is also readying to spin off German sportswear brand Puma.

As reported, Kering and Stella McCartney on March 28 said they have agreed to end their 17-year partnership and that the designer would purchase Kering’s 50 percent stake in her namesake brand.

Kering’s other luxury labels include Gucci, Alexander McQueen, Bottega Veneta, Boucheron, Saint Laurent, Brioni and Balenciaga.

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