Women’s Wear Daily
04.18.2014
financial
financial

VF Sets Sights on $11B in Sales by 2012

Eric Wiseman set the tone for his tenure as the new chief executive officer of VF Corp. during the company's annual meeting with analysts on Wednesday, unveiling an aggressive five-year growth strategy that targets increasing revenues to $11 billion...

financial/news
View Slideshow
"It's clear to us that we still have more work to do," said Wiseman of Nautica.

The John Varvatos business, on the other hand, has more than doubled since VF acquired it and grew by 40 percent in 2007. "This business has been a real win for us," he said.

Because VF's jeanswear coalition represents its largest and most mature business, management isn't expecting the same sort of growth that it does from its other lifestyle brands. Jeanswear accounted for 41 percent of revenues last year and is expected to account for 33 percent in 2012.

"Over the next five years, this business will grow more modestly," said Wiseman. "By far, here in the U.S., our top priority is to keep the continued growth of our big business in the mass and midtier channels," he said. The Wrangler brand in particular has seen success, driven by marketing campaigns featuring Dale Earnhardt Jr. and Brett Favre.

Internationally, management is counting on growth in India and China. Jeanswear revenues are expected to grow $450 million by 2012, 60 percent of which is expected to occur in international markets.

VF won't be abandoning its hunt for new brands, either. In its bid to reach $11 billion in revenues, management expects at least $900 million to come from acquisitions.

"By and large, our acquisitions have outperformed their original returns and provided tremendous returns for our shareholders," said Wiseman.
View Slideshow
Page:  « Previous
VIEW ARTICLE IN ONE PAGE
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.

Ads by Google

Newsletters
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

Publications

ArticleFinder

Beauty


Choose By

Clear

How it works

Close

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.


Or