VF Corporation

{{Infobox company

| name = VF Corporation

| logo = VF Corporation logo.svg

| logo_size = 150

| former_name = Vanity Fair Mills

| type = Public

| traded_as = {{ubl|{{NYSE|VFC}}|S&P 400 component}}

| founded = {{Start date and age|1899|10}} (as Reading Glove and Mitten Manufacturing Company) in Reading, Pennsylvania, U.S.

| founder = John Barbey

| hq_location = Denver, Colorado, U.S.

| key_people = Bracken Darrell (CEO)

| num_employees = 30,000 (2024)

| revenue = {{decrease}} {{US$|10.45 billion|link=yes}} (2024)

| operating_income = {{decrease}} US$−34 million (2024)

| net_income = {{decrease}} US$−969 million (2024)

| assets = {{decrease}} US$11.61 billion (2024)

| equity = {{decrease}} US$1.658 billion (2024)

| industry = {{ubl|Apparel|Accessories}}

| subsid = Altra Running
Dickies
Eastpak
JanSport
Icebreaker
Kipling
Napapijri
The North Face
SmartWool
Timberland
Vans

| products = Footwear & apparel

| owner = Barbey family trusts (16.58%)[https://www.sec.gov/Archives/edgar/data/103379/000119312521188246/d125994ddef14a.htm#toc125994_33 2021 Proxy Statement]

| website = {{official URL}}

| footnotes = {{cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/103379/000010337924000008/vfc-20240330.htm |title=VF Corporation FY 2024 Annual Report (Form 10-K) |publisher=US Securities and Exchange Commission |date=May 23, 2024}}

}}

VF Corporation (formerly Vanity Fair Mills until 1969) is an American global apparel and footwear company founded in 1899 by John Barbey and headquartered in Denver, Colorado.{{cite web |url= https://www.forbes.com/companies/vf/ |title=VF on the Forbes Global 2000 List |website=Forbes |access-date=18 December 2014}} The company's 11 brands are organized into three categories: Outdoor, Active and Work.{{cite web |url=https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=VFC |archive-url=https://web.archive.org/web/20100426065238/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=VFC |url-status=dead |archive-date=26 April 2010 |title=VF Corp (VFC) Company Profile | website=Reuters |access-date=18 December 2014}} In 2015, the company controlled 55% of the U.S. backpack market with the JanSport, Eastpak, Timberland, and The North Face brands.{{cite web|last1=Tabuchi |first1=Hiroko |author-link=Hiroko Tabuchi |title=Backpack Makers Rethink a Student Staple |url=https://www.nytimes.com/2015/09/03/business/backpack-makers-rethink-a-student-staple.html |website=The New York Times |access-date=14 September 2015|date=2 September 2015}}

History

In October 1899, John Barbey and a group of investors established the company as Reading Glove and Mitten Manufacturing Company (or simply The Reading Glove) in Reading, Pennsylvania.{{Cite web|url=https://www.vfc.com/our-company/company-history|title = Company History}}{{Cite web|url=http://southernchanges.digitalscholarship.emory.edu/sc06-5_1204/sc06-5_005/|title=Time and Time Again: The Women, the Union and the Vanity Factory|year=1996}} Incorporated on December 4 later that year, they began with $11,000 in a {{convert|320|sqft|m2|adj=on}} factory that was leased for $60/month.{{Citation needed|date=April 2020}}

Expanding into silk lingerie in 1913, The Reading Glove was renamed Schuylkill Silk Manufacturing, branding its lingerie line as Vanity Fair. Soon thereafter, the company name changed in turn to Vanity Fair Mills, eventually going public in 1951.

In 1969, the H.D. Lee Company (now Lee) was acquired, accompanied by Vanity Fair Mills changing to VF Corporation. By 1982 VF posted profits of $15.5 million on sales of $184 million. Acquiring Blue Bell Inc. for US$762 million in 1986, VF added Wrangler, JanSport, Rustler, Jantzen, and Red Kap to its portfolio, effectively doubling its size and making it the largest publicly-held clothing company. VF would also become one of the two largest jeans makers in the world, making up 25% of the market.

In 1998, VF moved its headquarters from Wyomissing, Pennsylvania, to Greensboro, North Carolina, to be closer to more of its operations.{{Cite web|url=https://money.cnn.com/magazines/fortune/fortune_archive/1998/12/07/252153/index.htm|title=VF Corp. Changes Its Underware The $5.5-billion-a-year maker of jeans and lingerie is sewing together its operations with an array of packaged software. - December 7, 1998|website=archive.fortune.com}} Also in the 1990s, VF would acquire the Bulwark Apparel brand.

In the early 2000s, VF's acquisitions included The North Face and Eastpak in 2000;"[https://www.just-style.com/news/vf-completes-eastpak-acquisition_id77931.aspx VF Completes Eastpak Acquisition]." just-style. 2000 May 31. and Kipling,VF Services, Inc. 2004 June 15. "[https://www.businesswire.com/news/home/20040615005506/en/VF-Acquires-Kipling-Brand-Lifestyle-Brand-of-Bags-and-Accessories-Offers-Excellent-Potential-for-Growth Acquires Kipling Brand; Lifestyle Brand of Bags and Accessories Offers Excellent Potential for Growth]." Napapijri, and Vans in 2004. The company sold its 'Vanity Fair Intimates' lingerie business to Fruit of the Loom for US$350 million in cash on January 23, 2007.{{cite web|title=VF Corp. Has The Midas Touch|website=Forbes |url=https://www.forbes.com/sites/walterloeb/2013/04/02/vf-corp-has-the-midas-touch/|access-date=22 April 2015}} Later that month, VF acquired Eagle Creek. Also in 2007, VF acquired Majestic Athletic on February 28, followed by a $885-million purchase of 7 for all Mankind and Lucy Activewear on July 26.{{Cite news|date=2007-07-26|title=Apparel Maker Buying 2 Companies|language=en-US|work=The New York Times|agency=Associated Press|url=https://www.nytimes.com/2007/07/26/business/26cnd-jeans.html|access-date=2020-02-04|issn=0362-4331}}

Eric C. Wiseman became president, CEO, and chairman in 2008,{{cite web|title=Eric Wiseman, Chairman, President, CEO, VF|url=https://www.bloomberg.com/profiles/people/3723828-eric-c-wiseman|publisher=Bloomberg L.P.|access-date=25 November 2014}} the same year that VF would acquire Mo Industries Holdings, parent company of sportswear brands Splendid and Ella Moss.{{Cite web|url=https://www.snewsnet.com/press-release/vf-completes-acquisition-of-mo-industries-owner-of-splendid-and-ella-moss-contemporary-sportswear-brands|title = VF Completes Acquisition of Mo Industries, Owner of Splendid and Ella Moss Contemporary Sportswear Brands|date = 12 March 2009}}

In 2011, VF Corporation announced its intention to purchase Timberland for $2.2 billion,{{Cite news|url=https://www.wsj.com/articles/SB10001424052702303848104576383230037744242|title=Sale Gives Timberland Leg Up|last=Holmes|first=Elizabeth|date=2011-06-14|work=Wall Street Journal|access-date=2020-02-04|language=en-US|issn=0099-9660}} a deal that would close in September that year.{{Cite web|url=https://www.vfc.com/news/press-release/174/vf-completes-acquisition-of-the-timberland-company|title=VF Completes Acquisition of The Timberland Company|website=VF Corporation}} On 21 December 2012, VF Imagewear was awarded a multimillion-dollar contract to provide uniforms and insignia for U.S. Customs and Border Protection officers.{{cite web |url= https://www.fbo.gov/index?s=opportunity&mode=form&id=ef8e5a2337041fbf4cf6b49fbd9690f9&tab=core&tabmode=list&= |title=Imagewear CBP Contract |access-date=7 March 2015}} In February 2013, Imagewear was awarded a $50 million contract to manufacture uniforms for Transportation Security Administration officers.{{cite web |url= https://www.fbo.gov/?s=opportunity&mode=form&id=451fa835036b45f2120ba8154e6e47f3&tab=core&_cview=1 |title=Imagewear TSA uniform contract |access-date=7 March 2015}}

Effective January 1, 2017, Steve Rendle took over CEO and President responsibilities.{{Cite web|url=https://www.vfc.com/our-company/executive-leadership-team|title=Executive Leadership Team}} In 2017, VF acquired Williamson-Dickie’s brands, including Dickies, Workrite, Kodiak, Terra, and Walls. The next year, VF would acquire Icebreaker, complementing its Smartwool brand, as both feature merino wool in its clothing and accessories. In 2020, VF acquired streetwear brand Supreme for US$2.1 billion.VF Corporation. 2020 November 9. "[https://www.vfc.com/news/press-release/1738/vf-corporation-announces-definitive-agreement-to-acquire VF Corporation Announces Definitive Agreement To Acquire Iconic, Global Streetwear Leader Supreme®]." VF Corp.{{Cite news|date=2020-11-09|title=VF to Buy Supreme for $2.1 Billion to Boost Apparel Brands|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-11-09/vf-to-buy-supreme-for-2-1-billion-to-boost-apparel-brands-khai71de|access-date=2020-11-09}}

In 2021, VF announced a definitive agreement to sell a portion of its Occupational Work segment to a subsidiary of Redwood Capital Investments, LLC.{{cite press release|url=https://www.vfc.com/news/press-release/1761/vf-corporation-enters-into-definitive-agreement-to-sell-the|title=VF Corporation Enters Into Definitive Agreement to Sell the Occupational Portion of Its Work Segment

|publisher=VF Corporation |date=April 28, 2021 |accessdate=April 28, 2021}} On June 28, 2021, the sale was finalized, and the 11 divested brands became part of a new standalone company, Workwear Outfitters.{{cite press release|url=https://www.vfc.com/news/press-release/1768/vf-corporation-completes-the-sale-of-the-occupational|title=VF Corporation Completes the Sale of the Occupational Portion of Its Work Segment

|publisher=VF Corporation |date=June 28, 2021 |accessdate=June 28, 2021}}

In September 2021, it was announced that the former president of emerging brands of VF Corporation, Travis Campbell, would acquire the Eagle Creek brand.{{Cite news|url=https://www.outsidebusinessjournal.com/brands/adventure-travel/travis-campbell-acquires-eagle-creek/ |title=Exclusive: Travis Campbell acquires Eagle Creek |website=outsidebusinessjournal.com|date=2021-09-08|access-date=2021-09-09}}

In June 2023, former Logitech CEO Bracken Darrell became CEO.{{cite news |title=Vans sneakers maker VF taps Logitech's Bracken Darrell as CEO |url=https://www.reuters.com/business/vans-sneakers-maker-vf-taps-logitechs-bracken-darrell-ceo-2023-06-20/ |access-date=3 January 2024 |date=20 June 2023}}

In July 2024, VF announced the sale of the streetwear brand Supreme to EssilorLuxottica for US$1.5 billion.{{Cite web |date=2024-07-17 |title=EssilorLuxottica to Acquire Supreme® from VF Corporation |url=https://www.vfc.com/news/press-release/1839/essilorluxottica-to-acquire-supreme-from-vf-corporation |access-date=2024-07-18 |website=VF Corporation |language=en}}

=Spinoff=

In August 2018, it was announced that VF would be splitting into two separate companies. The jeans and outlet stores would be spun off as Kontoor Brands. VF kept the sports apparel and footwear businesses, and moved its corporate headquarters (and around 800 employees) to Denver, Colorado. An 11-story office building at 1551 Wewatta Street near Denver Union Station became VF's new corporate headquarters.{{Cite web|url=https://www.denverpost.com/2018/08/13/vf-corp-denver-headquarters/|title=VF Corporation, parent company of outdoor brands The North Face, Smartwool, will relocate headquarters, 800 workers to Denver|date=August 13, 2018}} All brands which until 2018 had maintained separate divisional headquarters (e.g., Jansport) were also consolidated into VF's new Denver headquarters.

Kontoor Brands Inc. became a separate company with the stock symbol KTB in May 2019. Kontoor includes Lee, Wrangler, Rock & Republic and VF Outlets. The company had 17,000 employees.{{cite news|url=https://www.journalnow.com/business/kontoor-begins-independent-life-with-focus-on-jeans-innovation-attracting/article_824b6fd4-9a9d-50e0-9b38-b5209a73f84c.html|title=Kontoor begins independent life with focus on jeans innovation, attracting new customers|last=Craver|first=Richard|work=Winston-Salem Journal|date=25 May 2019|access-date=26 May 2019}}

Brands

Date of acquisition or merger in parentheses.

Dickies (2017){{Cite web|url=http://fortune.com/video/2017/08/14/vf-corp-buys-dickies-for-820-million/|title=VF Corp buys Dickies for $820 million|work=Fortune }}
Altra Running (2018)VF Corporation. 2018 June 1. "[https://www.vfc.com/news/press-release/1655/vf-corporation-completes-acquisition-of-altra VF Corporation Completes Acquisition of Altra®]." VF Corp.
Icebreaker (2018)
The North Face (2000)
Smartwool (2011)
Timberland (2011)
Napapijri (2004)
Vans (2004)
Eastpak (2000)
JanSport (1986)
Kipling (2004)

=Divested brands=

Vanity Fair lingerie (sold in 2007 to Fruit of the Loom)
7 for All Mankind (sold in 2016 to Delta Galil Industries)
Splendid (sold in 2016 to Delta Galil Industries)
Eagle Creek (sold in 2021 to former president of emerging brands of VF Corp. Travis Campbell).
Ella Moss (sold in 2016 to Delta Galil Industries)
Majestic Athletic (sold in 2017 to Fanatics)
Nautica (sold in 2018 to Authentic Brands Group)
Bulwark Protective Apparel (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Chef Designs (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Horace Small (a clothing company—founded in 1937 and based in Nashville, Tennessee—that produced uniforms for law enforcement, fire, EMS, security and land management services.{{cite web|title=Horace Small|url=https://www.vfimagewear.com/vfweb/redkap/mojo/controller?actionID=page/display&pageid=Horace_Small|access-date=21 July 2017|website=www.vfimagewear.com}} In 1999, the company was acquired by VF Corporation, and was renamed as The Force in 2005, but reverted to the original brand name in 2010.){{cite web|title=VF Imagewear Relaunches Horace Small Brand of Law Enforcement Apparel|date=16 September 2010 |url=http://www.policemag.com/channel/patrol/news/2010/09/17/vf-imagewear-relaunches-horace-small-brand-of-law-enforcement-apparel.aspx|access-date=21 July 2017}} In 2021, the Horace Small brand was sold to Redwood Capital Investments, LLC; and later became part of Workwear Outfitters.
Kodiak (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Liberty (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Red Kap (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Terra (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
VF Solutions (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters and renamed Image Authority)
Walls (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Work Authority (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Workrite Fire Service (sold in 2021 to Redwood Capital Investments, LLC; became part of Workwear Outfitters)
Supreme (sold in 2024 to EssilorLuxottica)

VF Outlet, Inc.

File:VF Outlet Store.jpg, Indiana]]

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.{{cite web|title=About VF Outlet|url=https://vfoutlet.com/about-vf-outlet|website=VFOutlet.com|access-date=17 June 2015|url-status=dead|archive-url=https://web.archive.org/web/20150413165149/https://vfoutlet.com/about-vf-outlet|archive-date=13 April 2015}} In doing so, VF Corporation created a brand-new retail industry, the outlet mall. The first VF Outlet factory store opened in Reading, Pennsylvania. The outlet mall, located in Vanity Fair's old manufacturing mills, was dubbed the official "Outlet Capital of the World."{{cite news|title=Reading Officially 'Outlet Capital Of The World'|url=https://www.mcall.com/1991/09/01/reading-officially-outlet-capital-of-the-world/|access-date=17 June 2015|date=1 September 1991}} 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.{{cite web|title=Store Listings & Center Map|url=http://vfoutletcenter.com/store-listings-center-map|website=VFOutletCenter.com|access-date=17 June 2015}} The VF Outlet location in Reading, Pennsylvania, closed on December 24, 2020.{{cite news|last=Rader|first=Tom|title=VF Outlet in Berks closes its doors|publisher=WFMZ-TV|location=Allentown, PA|date=December 24, 2020|url=https://www.wfmz.com/news/area/berks/vf-outlet-in-berks-closes-its-doors/article_99fd2c2a-4643-11eb-82e4-2bc3dfb868dd.html|access-date=December 24, 2020}}

VF Outlet stores offered everyday apparel including brand name jeans, intimate apparel, activewear, and swimwear. The company as of June 2015 operated 79 stores in 31 states nationwide.{{cite web|title=VF Outlet Store Locator|url=https://vfoutlet.com/store-locator.html|access-date=17 June 2015|url-status=dead|archive-url=https://web.archive.org/web/20150418151931/https://vfoutlet.com/store-locator.html|archive-date=18 April 2015}} As of 2025, the http://vfoutlet.com/ website redirects to the Kontoor Brands' Wrangler website with some of the former locations now operating under the Lee and Wrangler brands. The website as of 2025{{cite web | url=https://www.kontoorbrands.com/brands | title=Brands }} no longer lists any VF Outlets. It appears that the outlets closed during the pandemic{{cite web | url=https://fashionunited.com/news/retail/vf-corp-closes-all-stores-in-north-america/2020031632631 | title=VF Corp closes all stores in North America | date=March 16, 2020 }} and only reopened briefly at the end of 2020 to liquidate their inventory.

In October 2013, VF Outlet launched their e-commerce store.{{cite web|title=VF Outlet - Discount Clothing for Women, Men, Kids & Baby|url=http://vfoutlet.com/|access-date=17 June 2015}}

The VF Outlet business moved to Kontoor Brands Inc, established as a separate company in May 2019.

Ethical sourcing

In 2025, VF Corporation signed a brand letter of intent calling on the Australian wool industry to end the practice of mulesing.{{Cite web |title=Brand Letter of Intent |url=https://www.four-paws.org/campaigns-topics/campaigns/wearitkind/brand-letter-of-intent |access-date=2025-03-24 |website=FOUR PAWS International - Animal Welfare Organisation |language=en}}