LOS ANGELES — After going public last year, Volcom Inc. — the action-sports brand whose motto is “Youth Against Establishment” — is ready to spread its retail wings.
Richard Woolcott, Volcom’s president and chief executive officer, said the company’s retail plans include the addition of at least two stand-alone stores by the end of 2006, and a significant renovation of Volcom’s first store, on La Brea Avenue here.
“We have a few important projects now in the works, and they include expanding our 126 La Brea location with a soft reopening in May,” Woolcott said during an earnings conference call on April 27.
“Our licensed San Diego…location is set to open in early summer. Our licensed Tulare [Calif.] outlet store has recently opened, and sales are above plan,” he said.
The Volcom outlet bowed in the Horizon Outlet Center in Tulare. The San Diego store will be located in the quaint Gaslamp Quarter.
The Costa Mesa, Calif.-based company has been a favorite of surfers, skateboarders and streetwear aficionados since 1991, when Woolcott — a former Quiksilver employee and avid board athlete — started the brand out of his bedroom with his friend, Tucker Hall.
Sales in that first year totaled $2,600, according to the company’s Web site.
Though Volcom has followed fellow Orange County action-sports companies such as Quiksilver to Wall Street, the company remains discerning about what retailers it sells to — mainly independent surf and skate shops and better department stores.
The Surf Industry Manufacturers Association, a trade organization for the surf apparel category, nominated Volcom in three categories for its annual Image Awards: women’s brand of the year, men’s brand of the year and ad campaign.
Annual net income for Volcom has doubled since 2003, from $14.3 million to $29.4 million in 2005, according to financial filings. The company reported a net income of $4.4 million for the first quarter of 2006, down from $6.3 million in the year-ago period.
Volcom’s annual shareholders’ meeting is scheduled for today in Costa Mesa.