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Organisational changes in VF Corp to advance APAC strategy

01
Jul '20
Pic: VF Corporation
Pic: VF Corporation
VF Corporation recently announced organisational changes to strengthen and accelerate its business strategy in the Asia Pacific (APAC) region, while adding enhanced leadership support for its emerging brands platform. With a specific focus on advancing its stated strategy of growing its business in China, VF has created the new position of president, Greater China.

The company will announce the leader appointed to this position later this summer, it said in a press release. Greater China includes mainland China, Hong Kong and Taiwan.

Greater China today represents about 65 per cent of VF’s total business in the APAC region. The company expects that percentage to grow to nearly 80 per cent by fiscal 2024.

“When we introduced our new global business strategy in 2017, we declared our commitment to invest in our APAC region and accelerate growth for our brands, all with a particular emphasis on China,” said VF’s chairman, president and chief executive officer Steve Rendle.

“By creating the new position of President, Greater China, we’re leaning even further into the many opportunities we see to elevate our business and brands in this fast-moving, digitally-driven marketplace. We look forward to announcing our appointment later this summer,” he added.

VF outlined its plans for growing its China business and its emerging brands during its September 2019 investor day held in Colorado. Certain financial projections made there have since changed as a result of the COVID-19 pandemic.

Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies.

Fibre2Fashion News Desk (DS)


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