VF Corp. owns Vans and Reef, in addition to a host of other brands including Wrangler, North Face and 7 For All Mankind. Here’s what CEO Eric Wiseman had to say at the ICR XChange conference in Dana Point this morning.
VF has e-commerce sites planned for most of its brands.
Vans checkerboard authentic
Vans will open 98 new stores in the Americas and 25 in Europe/Asia in the next five years. Currently, Vans has 184 stores.
The North Face will be the No. 1 growth brand internationally, followed by Vans.
Only 2 to 3 percent of VF’s growth will come from acquisitions in the next five years. Wiseman said the company isn’t backing off acquisitions but is so confident in achieving a high organic growth rate with existing brands it is focusing more on them.
Since VF acquired Vans, Vans has logged a 25 percent revenue growth rate, while Reef has recorded a 24 percent revenue growth rate.
In the next five years, the outdoor coalition, which includes Vans and Reef, will be the biggest contributor to revenue growth at $1.5 billion. Overall, VF plans to grow to $11 billion in sales in the next five years.
The VF model with its stable of brands is to leverage the backend and invest in the front end.
