VF Corp to increase focus on retail brands

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VF Corp to increase focus on retail brands
VF Corp said divesting the brands would give it financial flexibility to plan future divestments.
// VF Corp mulls divestment of 9 workwear brands in its stable
// It wants to increase focus on its retail-oriented brands such as Vans, The North Face, etc

VF Corp has announced plans to review nine of its workwear labels that target businesses as it looks to increase focus on its retail-centric brands.

Earlier this week, the company the brands it wants to divest represented about $865 million (£659.72 million) of its total 2019 revenue of $13.85 billion.

The nine brands up for review, including Red Kap and Bulwark, also make up about 50 per cent of VF Corp’s workwear segment sales.

VF Corp also said divesting the brands, as well as divesting its VF Solutions arm that sells uniform to businesses and governmental organisations, would give it financial flexibility to plan future divestments.

VF Corp owns fashion retailers such as Vans, The North Face, Timbaland and Kipling.

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