VF Corporation

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VF Corporation
Public
Traded as NYSEVFC
S&P 500 Component
Industry clothing, accessories
Founded 1899; 116 years ago (1899)
(Reading, Pennsylvania)
Headquarters Greensboro, North Carolina
Revenue
  • Increase US$ 11.419648 billion (2013) [1]
  • Increase US$ 10.879855 billion (2012) [1]
  • Increase US$ 1.647147 billion (2013) [1]
  • Increase US$ 1.465267 billion (2012) [1]
  • Increase US$ 1.210119 billion (2013) [1]
  • Increase US$ 1.085999 billion (2012) [1]
Total assets
  • Increase US$ 10.315443 billion (2013) [2]
  • Increase US$ 9.633021 billion (2012) [1]
Total equity
  • Increase US$ 6.077038 billion (2013) [1]
  • Increase US$ 5.125625 billion (2012) [1]
Number of employees
58,000 (2011)[3]
Slogan We Fit Your Life
Website vfc.com

VF Corporation is an American clothing corporation. VF corporation sells jeanswear, underwear, daypacks, and workwear. The corporate headquarters is in Greensboro, North Carolina. VF Corporation is a global apparel and footwear company founded in 1899 and headquartered in Greensboro, North Carolina.[4] The company’s more than 30 brands are organized into five product categories: Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear and Contemporary Brands.[5]

History[edit]

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 sold to the public in 1951. The H.D. Lee Company (now Lee Jeans) 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. On October 3, 2005, Lee brand jeans, sold by the VF Corporation, was seeking another agency after parting ways with Fallon Worldwide in Minneapolis, part of the Publicis Groupe.

The company announced the purchase of VF Corporation's "Vanity Fair" lingerie business by Fruit of the Loom for $350 million in cash on January 23, 2007.[6]

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.[citation needed] Eric C. Wiseman became President, CEO, and Chairman in 2008.[7]

In 2011, VF Corporation announced its intention to purchase Timberland for $2.2 billion.[citation needed] The deal closed in September 2011.[citation needed] On December 21, 2012, VF Imagewear was awarded a multi-million dollar contract to provide uniforms and insignia for Customs and Border Protection officers.[8] In February 2013, Imagewear was awarded a $50-million contract to manufacture uniforms for Transportation Security Administration officers.[9]

Brands owned by VF Corporation[edit]

Jeanswear[edit]

Imagewear[edit]

Outdoor & action sports[edit]

Eastpak-Wallet

Sportswear[edit]

Uniforms[edit]

  • Horace Small

Contemporary[edit]

VF Outlet, Inc.[edit]

A vanity fair outlet located in Michigan City, Indiana.

VF Outlet[edit]

In 1970, it was the suggestion of M.O. Lee, then President of VF Corporation, that established the VF Outlet business. 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.[10] 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.[11]

In October 2013, VF Outlet launched their ECommerce store.[12]

VF Outlet Center[edit]

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." [13] 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.[14]

See also[edit]

References[edit]

  1. ^ a b c d e f g h i "V F CORP 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 26, 2014. 
  2. ^ "V F CORP 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. May 7, 2014. 
  3. ^ "Annual Report 2011, Form 10-K". 2012-02-29. Retrieved 2012-10-21. 
  4. ^ "VF on the Forbes Global 2000 List". Retrieved 18 December 2014. 
  5. ^ "VF Corp (VFC) Company Profile". Retrieved 18 December 2014. 
  6. ^ "VF Corp. Has The Midas Touch". Retrieved 22 April 2015. 
  7. ^ "Eric Wiseman, Chairman, President, CEO, VF". Bloomberg. Retrieved 25 November 2014. 
  8. ^ "Imagewear CBP Contract". Retrieved 7 March 2015. 
  9. ^ "Imagewear TSA uniform contract". Retrieved 7 March 2015. 
  10. ^ "About VF Outlet". VFOutlet.com. Retrieved 17 June 2015. 
  11. ^ "VF Outlet Store Locator". Retrieved 17 June 2015. 
  12. ^ "VF Outlet - Discount Clothing for Women, Men, Kids & Baby". Retrieved 17 June 2015. 
  13. ^ "Reading Officially 'Outlet Capital Of The World'". 1 September 1991. Retrieved 17 June 2015. 
  14. ^ "Store Listings & Center Map". VFOutletCenter.com. Retrieved 17 June 2015. 

External links[edit]