VF CORP news and archive

VF expects its transformation program to reduce debt and drive profitability

VF Corp. has announced the medium-term financial targets including adjusted operating margin of at least 10 percent, adjusted gross margin of at least 55 percent, adjusted SG&A as a percentage of revenue of 45 percent or lower and net leverage of 2.5x or below. Commenting on the update ahead of the company’s investor day, Bracken Darrell, VF...

Business

VF's Q1 loss widens, revenues drop

VF Corporation’s first quarter revenues of 1.9 billion dollars, were down 9 percent or 8 percent in constant dollars. The company reported loss per share of 67 cents and adjusted loss per share of 33 cents versus the first quarter of the previous year. VF also announced a quarterly per share dividend of 9 cents. Commenting on the first quarter...

Business|Opinion Featured

EssilorLuxottica's gambit: Can Supreme regain its edge?

In a surprising turn of events, eyewear behemoth EssilorLuxottica is set to acquire streetwear icon Supreme for 1.5 billion dollars, as VF Corp. retreats from its once-prized asset. This deal, coming at a substantial markdown from Supreme's previous valuation, signals a pivotal moment for the brand and the broader streetwear market. VF Corp. had...

People

Sun Choe to join VFC as global brand president of Vans brand

VF Corporation has appointed Michelle (Sun) Choe as global brand president, Vans, beginning in late July. Sun, the company said in a release, is a highly accomplished apparel industry executive with nearly three decades of experience leading design and merchandising for renowned global brands, including Lululemon, Marc Jacobs, West Elm,...

BusinessFeatured

VF names new CFO amid turnaround efforts to boost sales

Fourth quarter revenue of 2.4 billion dollars at VF Corporation, was down 13 percent with The North Face down 5 percent, brand DTC up 6 percent or 7 percent in constant dollars, with ongoing weakness in US wholesale. FY24 revenue of 10.5 billion dollars, was down 10 percent or 11 percent in constant dollars. The company also announced the...

Business

VF Corp to make retail push in MENA and SEA regions with 300 store openings

VF Corp, the parent company to Vans, The North Face and Timberland, is preparing to make a big push in the Middle East and North Africa (MENA) and Southeast Asia (SEA) markets over the next five years through a new distribution and retail deal with GMG. As part of the agreement, retail conglomerate GMG has been tasked with expanding the presence...

Business

VF Corp to layoff 500 roles amid reinvention

Fashion conglomerate VF Corp has said that it will be making around 500 layoffs across the company as it continues on its reinvention strategy under chief executive officer Bracken Darrell. Initiated late October and dubbed ‘Project Reinvent’, the transformation plan aims to enhance focus on brand-building and improve operating performance....

BusinessFeatured

VF Corp names Bracken Darrell president and CEO

Fashion and lifestyle conglomerate VF Corporation has announced the appointment of Bracken Darrell as president and chief executive officer, effective July 17, 2023. Darrell will succeed Benno Dorer who served in an interim capacity since December 2022 and has been on VF’s board since 2017. While Dror will remain a board member, Richard Carucci,...

Fashion |In Pictures

Kipling unveils collaboration with Minju Kim

Accessories brand Kipling, part of VF Corp, is launching a capsule collection with Next in Fashion season one winner and Seoul-based fashion designer Minju Kim. The Kipling x Minju Kim collection launches on April 27 and merges Kim’s signature bold prints and fairy tale creativity with Kipling’s function-led designs across backpacks, crossbodies...

Fashion |In Pictures Featured

Kipling collaborates with Victoria Tang

Accessories brand Kipling, part of VF Corp, has unveiled a capsule collection with designer and entrepreneur Victoria Tang, who has served as artistic director of Issa London and creative director of Chinese luxury brand Shanghai Tang. Described as a collection “for empowering women,” Kipling x Victoria Tang coincides with International Women’s...

People

VF Corporation announces new appointments to EMEA leadership

VF Corporation, the global apparel and footwear company which owns brands including Vans, The North Face, and Timberland, has announced new appointments to its EMEA leadership team in response to “consistent successful business performance” in the region. From January 31, Mariano Alonso, the current General Manager of Timberland EMEA, will take...

Business

The North Face’s Van Leeuwen to head brand’s US business

The general manager of The North Face EMEA, Jan Van Leeuwan, is set to become the head of the brand’s US business, according to its owner VF Corp. Van Leeuwen, who has been at VF for over a decade, has held his current position at The North Face for four years and has been credited with helping shape the company and brand over this period. In...