That business acumen is particularly important these days as Volcom has been hit hard by the drop in consumer spending.

WSJ: Bridging the Divide Between the Beach and Wall Street

The experience led him to collaborate with the company's human resources department to create Volcom University, an in-house education program for employees.

WSJ: Bridging the Divide Between the Beach and Wall Street

A. programs while working at Volcom, then teach employees how to apply the concepts from those lessons to their specific work at Volcom.

WSJ: Bridging the Divide Between the Beach and Wall Street

Pinault said the company identified action sports, which led to the 2011 acquisition in Volcom, and in the outdoors segment of the market.

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Senior Volcom executives, some of whom have also gone through M.

WSJ: Bridging the Divide Between the Beach and Wall Street

Mr Ripley, however, believes that there is still potential, underlined by French luxury goods group PPR buying US surf gear firm Volcom a few weeks ago.

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The idea for launching a Volcom footwear line was initiated by PPR to make the brand more cohesive with its current line of apparel and accessories.

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Its brands are Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac.

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After more than a year of development on the new shoe line, Volcom brought together between 50 and 100 of its top retail accounts and did a soft launch in California and New York.

FORBES: After 22 Years, Volcom is Launching its First Shoe Line

Volcom, based in Costa Mesa, Calif.

FORBES: After 22 Years, Volcom is Launching its First Shoe Line