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The U.S. headquartered apparel and footwear Group has announced organisational changes that aim to advance its Asia Pacific regional strategy.
VF Corp said that with a specific focus on advancing its strategy of growing its business in China, it has created the new position of President Greater China, with a leader to be appointed to this position later this summer. According to VF, establishing a leadership position responsible for Greater China, which includes Mainland China, Hong Kong SAR and Taiwan, creates an organisational structure that will enable the Group and its brands “to move faster and with focussed agility to pursue growth opportunities in this important market”. Today, Greater China represents about 65% of VF’s total business in the Asia Pacific Region and the Group expects that percentage to grow to nearly 80% by fiscal year 2024.
Kevin Bailey, Executive Vice President and Group President, APAC, is to continue leading the Group’s Asia Pacific Region, but will relocate from Hong Kong to Denver, Colorado, where he will also assume leadership of the VF’s Emerging Brands platform, which includes Altra, Eagle Creek, JanSport, Smartwool, and the Kipling and Icebreaker brands in the Americas Region. “Although they’re the smaller brands by revenue in our overall portfolio, our group of Emerging Brands present considerable opportunities for growth,” said Steve Rendle, CEO, VF Corp. “It’s important to remember that our global, multi-billion-dollar brands such as Vans and The North Face were once emerging brands when VF acquired them.”
VF Corp also owns the Timberland and Dickies brands.