VF Corporation: Company Description

VF Corporation is one of the world’s largest apparel, footwear and accessories companies, with a portfolio of outdoor, active and workwear brands. Its most iconic brands include Dickies, The North face, Timberland and Vans. Products are marketed to consumers through the wholesale channel and direct-to-consumer operations. Revenues from the direct-to-consumer business represented 41% of VF Corporation’s total fiscal-year 2020 revenues. Figure 1. VF Corporation: Company Profile [wpdatatable id=278]

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Source: Company reports

Key Events Overview: 2018–2020

In the last three years, VF Corporation has undergone restructuring through mergers and acquisitions, management changes and strategic offerings or movements. In addition, the company continued to make efforts in promoting sustainability. VF Corporation is committed to its “Made for Change” sustainability and responsibility strategy, which details the company’s focused approach to balancing growth, value creation and innovation with the goal of building a more sustainable industry. In May 2019, the company completed separation of its Jeanswear organization into an independent, publicly traded company, Kontoor Brands Inc., with the aim of growing its iconic denim brands: Lee and Wrangler. In June 2018, VF Corporation acquired Altra, an athletic and performance-based lifestyle footwear brand. In April 2018, the company acquired Icebreaker, a Merino-wool, natural, performance and outdoor clothing brand headquartered in Auckland, New Zealand, for $288 million.This marked VF Corporations’s first purpose-led acquisition and amplifies the company’s natural-fiber capabilities, which will be leveraged across multiple brands in the portfolio. VF Corporation has also sold some of its brands, to position itself for accelerated growth. In April 2018, the company sold Nautica to Authentic Brands Group for an undisclosed amount. In October 2018, the company sold the Reef brand to The Rockport Group, a shoe manufacturer. Figure 2. VF Corporation: Events Timeline, 2010–2020 [wpdatatable id=279 table_view=regular]

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Source: Company reports/S&P Capital IQ/Coresight Research