This is an excellent update on the continued growth of AAPN member VF.
Footwear News: JAN 21, 2020
VF Corp. Explores Strategic Alternatives for Work Brands
VF Corp. is looking to sharpen its portfolio once again.
The Vans and Timberland parent — which spun off its jeans business over the summer — announced today that it was reviewing strategic alternatives, including a sale, for the occupational portion of its work brands segment.
In a press release, the firm shared plans to streamline its portfolio of active, outdoor and work labels. The division in review is comprised of nine brands and businesses, including Red Kap, Bulwark, Terra, Work Authority and VF Solutions. (VF reaffirmed its commitment to the Dickies and Timberland Pro brands, which are not part of the review.)
“Driving and optimizing our portfolio continues to be a top strategic priority for VF, and exploring strategic alternatives for our occupational work brands is the natural next step in that process,” chairman, president and CEO Steve Rendle said in a statement. “Divesting these brands would leave VF with a simplified portfolio of higher-growth, consumer-focused brands, while providing financial flexibility to fuel further strategic initiatives and enhance shareholder value.” Read More