VF Corporation news and archive

Supreme acquired by eyewear giant EssilorLuxottica

Eyewear giant EssilorLuxottica has acquired New York-born streetwear brand Supreme in a deal worth 1.5 billion dollars, the transaction of which will be completed by the end of 2024, a press release revealed. In May, it was already speculated that VF Corporation, the parent company of Supreme and the owner of Vans, The North Face and Timberland,...

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VF names Caroline Brown as global brand president of The North Face

VF Corporation has announced the appointment of Caroline Brown as global brand president of The North Face, starting the week of June 10, 2024. The company said in a statement that Brown succeeds Nicole Otto and, as a result of her appointment, Brown has resigned as a member of the VF board of directors. “With Caroline’s intense focus on brand...

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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,...

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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...

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VF Corporation is mulling a sale of streetwear brand Supreme

In less than four years since its acquisition, VF Corporation is reportedly mulling a sale of its streetwear brand Supreme. Back in December 2020, the group bought the New York skater brand, valuing it at 2.1 million dollars, making it one of the largest fashion transactions of the year. According to WWD, VF Corp is considering divesting Supreme...

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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...

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Apparel industry veteran Caroline Brown joins VF board

VF Corporation has announced the appointment of Caroline Brown to the company’s board of directors, effective February 14, 2024. This appointment follows constructive engagement with VF’s shareholders, including Engaged Capital. The company said in a statement that VF also intends to appoint to the board another independent director in the near...

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VF CFO to step down, Q3 results trigger portfolio review

Ahead of announcing the financial results for Q3, it was revealed that VF Corporation’s chief financial officer Matt Puckett would be stepping down from the post later this year. Newly appointed CEO Bracken Darrell made the announcement during VF’s FY24 Q3 conference call, agreeing with Puckett that it was time to make a change as part of the...

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VF reports Q3 loss, revenues down 16 percent

VF Corporation reported a third quarter revenue decline of 16 percent or 17 percent in constant dollars to 3 billion dollars. The company’s loss per share was 11 cents, while adjusted earnings per share dropped to 57 cents. The company also announced a quarterly per share dividend of 9 cents and reiterated FY24 free cash flow guidance of...

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VF Corp tackling IT hack, fulfilment operations disrupted

Fashion retail conglomerate VF Corporation has said that it has “detected unauthorised occurrences on a portion of its information technology (IT) systems” that have impacted a number of its operations. In a filing, the group noted that while it immediately took steps to contain and assess the issue, including shutting down some of its systems,...

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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....

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Napapijri appoints Christopher Raeburn as creative director

Premium outerwear brand Napapijri, part of VF Corporation, has named British fashion designer Christopher Raeburn as its global creative director. In a statement, Napapijri said that Raeburn’s appointment comes as the brand ventures “into the next phase of its journey to become more design-led and elevated”. Raeburn, known for his sustainable...