VF Corporation
| |
Public | |
Traded as |
NYSE: VFC S&P 500 Component |
Industry | clothing, accessories |
Founded |
October 1899 (as Reading Glove and Mitten Manufacturing Company) Reading, Pennsylvania, U.S. |
Headquarters | Greensboro, North Carolina, U.S. |
Key people |
Eric Wiseman (Chairman) Steve Rendle (President and CEO) |
Revenue | |
Total assets | |
Total equity | |
Number of employees | 58,000 (2011)[3][4] |
Website |
vfc |
VF Corporation is an American worldwide apparel and footwear company founded in 1899 and headquartered in Greensboro, North Carolina.[5] The company’s more than 30 brands are organized into four product categories: Outdoor, Active, Work and Jeans.[6] The company controls 55% of the U.S. backpack market with the Jansport, Eastpak, Timberland and North Face brands.[7]
History
The company was established first as Reading Glove and Mitten Manufacturing Company in Pennsylvania in October 1899 by John Barbey and a group of investors. The company was started with $11,000 and a 320-square-foot (30 m2) factory that was leased for $60/month. It was incorporated in Pennsylvania on December 4 of that same year. The manufacture of undergarments began in 1919, accompanied by a name change to Vanity Fair Mills. Shares were initially sold to the public in 1951.
The H.D. Lee Company (now Lee) was acquired by the company in 1969 and the corporate name was changed to VF Corporation to reflect the more diverse product line. Blue Bell Inc., the owner of such brands as Wrangler and JanSport, was acquired in 1986, effectively doubling the size of VF and making it the largest publicly held clothing company.
In 1998, VF moved its headquarters from Wyomissing, Pennsylvania to Greensboro, North Carolina to be closer to more of its operations.[8]
The company sold its "Vanity Fair" lingerie business to Fruit of the Loom for $350 million in cash on January 23, 2007.[9]
On February 28, 2007, VF Corporation acquired Majestic Athletic. On July 26, 2007, VF Corporation announced the purchase of 7 for all Mankind and Lucy Activewear for a combined $885 million. Eric C. Wiseman became President, CEO, and Chairman in 2008.[10] Effective January 1, 2017 Steve Rendle took over CEO and President responsibilities.
In 2011, VF Corporation announced its intention to purchase Timberland for $2.2 billion. The deal closed in September 2011. On December 21, 2012, VF Imagewear was awarded a multimillion-dollar contract to provide uniforms and insignia for Customs and Border Protection officers.[11] In February 2013, Imagewear was awarded a $50-million contract to manufacture uniforms for Transportation Security Administration officers.[12]
In August of 2018, it was announced that VF would be splitting into two separate companies. The jeans and outlet stores will be spun off into a yet-to-be-named company with the headquarters likely remaining in North Carolina. VF will maintain the sports apparel and footwear businesses and move their corporate headquarters (and around 800 employees) to Denver, Colorado sometime in early 2019. [13]
Current brands
Jeanswear
- Wrangler income was $2.3 billion
- Lee income as of 2013 was $1.2 Billion dollars
- Rustlers[14]
- Rock and Republic
Workwear
- Horace Small (The Force), a clothing company based in Nashville, Tennessee, that produces uniforms for law enforcement, fire, EMS, security and land management services. It was founded in 1937.[16] In 1999 the company was acquired by VF Corporation, and was renamed as The Force in 2005 but reverted to the original brand name in 2010.[17][17]
- Bulwark Protective Apparel
Outdoor and action sports
- Altra
- Eagle Creek
- Eastpak
- Icebreaker
- JanSport
- Kipling Europe
- Lucy
- The North Face
- Napapijri
- Outdoor Products
- Reef
- SmartWool
- Timberland
- Vans
Sportswear
Divested brands
- Vanity Fair (sold in 2007 to Fruit of the Loom)
- 7 for All Mankind (sold in 2016 to Delta Galil Industries)
- Splendid (sold in 2016 to Delta Galil Industries)
- Ella Moss (sold in 2016 to Delta Galil Industries)
- Majestic Athletic (sold in 2017 to Fanatics)
- Nautica (sold in 2018 to Authentic Brands Group)
VF Outlet, Inc.
VF Outlet
In 1970, it was the suggestion of M.O. Lee, then President of VF Corporation, that established the VF Outlet business that surplus products from VF sources including Berkshire International and Vanity Fair were sold to the public from a 5,000 square foot factory store, with only a drop cloth separating it from the company's manufacturing facility.[18] In doing so, VF Corporation created a brand-new retail industry, the outlet mall.
VF Outlet stores offer everyday apparel including brand name jeans, intimate apparel, activewear, swimwear, and more for women, men and children. The company currently operates 79 stores in 31 states nationwide.[19]
In October 2013, VF Outlet launched their ECommerce store.[20]
VF Outlet Center
VF Corporation, which opened their first VF Outlet factory store in 1970, was one of the earliest outlet operations, and opened their first outlet center in the country, in Reading, Pennsylvania. The outlet mall, located in Vanity Fair's old manufacturing mills, was dubbed the official "Outlet Capital of the World." [21] The corporate name was changed from VF Outlet Village to VF Outlet Center in 2008.
Today, the VF Outlet Center is owned and operated by VF Outlet, Inc. with over 1,000,000 square feet of retail space and more than 20 stores.[22]
Subsidiaries
Subsidiary | Jurisdiction |
20X de Mexico, S.A. de C.V. | |
Beatle Properties Limited | |
Eagle Creek, Inc. | |
The H. D. Lee Company, Inc. | |
H.D. Lee Spain, S.L. | |
Imagewear Apparel Corp. | |
JanSport Apparel Corp. | |
Jeanswear Ventures, LLC | |
Kipling Apparel Corp. | |
Lee Bell, Inc. | |
lucy apparel, llc | |
Mo Industries, LLC | |
The North Face Apparel Corp. | |
The North Face (Italy) S.r.l. | |
R&R Apparel Company, LLC | |
The Recreational Footwear Company | |
Ring Company | |
Seven For All Mankind, LLC | |
Smartwool Consumer Direct LLC | |
Smartwool LLC | |
South Cone, Inc. | |
TBL International Properties LLC | |
TBL Investment Holdings GmbH | |
TBL Licensing LLC | |
Timberland LLC | |
Timberland (Gibraltar) Holding Limited | |
Timberland (UK) Ltd. | |
Timberland Asia LLC | |
Timberland Canada Co. | |
The Timberland Company (Asia Pacific) Pte. Ltd. | |
Timberland Europe Services Ltd. | |
Timberland GmbH | |
Timberland Holding Luxembourg S.àr.l. | |
Timberland HK Trading Limited | |
Timberland Hong Kong Limited | |
Timberland IDC Ltd. | |
Timberland International, LLC | |
Timberland Italy Srl. | |
Timberland Japan, Inc. | |
Timberland Lifestyle Brand Malaysia Sdn.Bhd. | |
Timberland Luxembourg Finance S.àr.l. | |
Timberland Luxembourg Holding Asia S.àr.l. | |
Timberland Luxembourg Holding Europe S.àr.l. | |
Timberland Management Services GmbH | |
Timberland Netherlands Holding B.V. | |
Timberland Retail, LLC | |
Timberland Spain S.àr.l. | |
Timberland Switzerland Holding GmbH | |
Timberland Trading (Shanghai) Company Limited | |
Vans, Inc. | |
Vans Madeira, S.L. | |
VFApparel Portugal, Lda | |
VF Apparel (Shenzen) Co., Ltd. | |
VF Asia Limited | |
VF Belgium B.V.B.A. | |
VF Brands India Pvt. Ltd. | |
VF Canada, Inc. | |
VF Contemporary Brands Canada Corp. | |
VF Comercializadora Limitada | |
VF Contemporary Brands, Inc. | |
VF de Argentina S.A. | |
VF do Brasil Ltda. | |
VF Ege Soke Giyim Sanayi ve Ticaret A.S. | |
VF Enterprises S.a.R.L. | |
VF Europe B.V.B.A. | |
VF Germany Textil-Handels GmbH | |
VF Global Investments S.a.R.L. | |
VF Imagewear, Inc. | |
VF Imagewear (Canada), Inc. | |
VF International S.a.g.l. | |
VF Investments Italy S.à.r.l. | |
VF Investments S.à.r.l. | |
VF Italia, S.r.l. | |
VF Italy Services S.r.l. | |
VF (J) France, S.A. | |
VF Jeanswear Argentina S.R.L. | |
VF Jeanswear de Mexico S.A. de C.V. | |
VF Jeanswear Espana S.L. | |
VF Jeanswear Limited Partnership | |
VF Jeanswear Nicaragua y Compania Limitada | |
VF Korea Limited | |
VF Luxembourg S.à.r.l. | |
VF Mauritius Ltd. | |
VF Northern Europe Ltd. | |
VF Northern Europe Services Ltd. | |
VF Outdoor (Canada), Inc. | |
VF Outdoor, Inc. | |
VF Outdoor Canada, Co. | |
VF Outlet, Inc. | |
VF Receivables, LP | |
VF Receivables Services LLC | |
VF Scandinavia A/S | |
VF Services, LLC | |
VF Shanghai Limited | |
VF Sourcing Asia S.a.R.L. | |
VF Sourcing India Private Limited | |
VF Sourcing Latin America S.a.R.L. | |
VF Sourcing (Thailand) Ltd. | |
VF Sportswear, Inc. | |
VF Treasury Services LLC | |
VFJ Ventures, LLC | |
Wrangler Apparel Corp. | |
Source:[23] |
See also
Companies portal
References
- 1 2 3 4 5 6 7 8 9 "V F CORP 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 26, 2014.
- ↑ "V F CORP 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. May 7, 2014.
- ↑ "Annual Report". 2016-09-29. Retrieved 2016-09-29.
- ↑ "Form 10-K". 2016-09-29. Retrieved 2016-09-29.
- ↑ "VF on the Forbes Global 2000 List". Retrieved 18 December 2014.
- ↑ "VF Corp (VFC) Company Profile". Retrieved 18 December 2014.
- ↑ Tabuchi, Hiroko (2 September 2015). "Backpack Makers Rethink a Student Staple". The New York Times. Retrieved 14 September 2015.
- ↑ VF Corp. Changes Its Underware
- ↑ "VF Corp. Has The Midas Touch". Retrieved 22 April 2015.
- ↑ "Eric Wiseman, Chairman, President, CEO, VF". Bloomberg. Retrieved 25 November 2014.
- ↑ "Imagewear CBP Contract". Retrieved 7 March 2015.
- ↑ "Imagewear TSA uniform contract". Retrieved 7 March 2015.
- ↑ https://www.denverpost.com/2018/08/13/vf-corp-denver-headquarters/. Missing or empty
|title=
(help) - ↑ http://www.rustler.com/
- ↑ "VF Corp buys Dickies for $820 million"
- ↑ "Horace Small". www.vfimagewear.com. Retrieved 21 July 2017.
- 1 2 "VF Imagewear Relaunches Horace Small Brand of Law Enforcement Apparel". Retrieved 21 July 2017.
- ↑ "About VF Outlet". VFOutlet.com. Archived from the original on 13 April 2015. Retrieved 17 June 2015.
- ↑ "VF Outlet Store Locator". Archived from the original on 18 April 2015. Retrieved 17 June 2015.
- ↑ "VF Outlet - Discount Clothing for Women, Men, Kids & Baby". Retrieved 17 June 2015.
- ↑ "Reading Officially 'Outlet Capital Of The World'". 1 September 1991. Retrieved 17 June 2015.
- ↑ "Store Listings & Center Map". VFOutletCenter.com. Retrieved 17 June 2015.
- ↑ "EX-21". www.sec.gov. Retrieved 21 July 2017.