VF Corporation is a strong and well-oiled manufacturing company. The success and growth of the company is attributed to their strategic acquisitions and upper management’s abilities to seize opportunities. VF Corporations has been around for 113 years. In those years this corporation has been aggressive and well informed about growth opportunities within the United States and abroad. VF has combined their driven culture, constant innovation and deep research insight to create products that will excite their consumers while creating brand loyalty.
The values of integrity, honesty, consideration and respect has helped craft VF’s approach to environmental sustainability to help the future generations create a healthier living environment. Millie and Brittany’s Paragraph: (add to this Millie) The history of VF Corporation is a rich and full of changes. The company originally started in 1899 as a mitten and reading glove manufacturer. There were six owners, including banker John Barbey.
In 1911 John Barbey bought out his five partners and set his sights on growing the company. He renamed the company Vanity Fair Silk Mills and included underwear in production. This turned the company into a lingerie powerhouse. In the 1950’s the company started to acquire other brands that would propel them into manufacturing history (Lambert). This started the expansion of VF Corporation. The company currently owns 25 brands and is looking to continue its growth into the Asia-pacific region.
In 2017 the company reports that this region will account for sixty percent of the revenue. The five year goal for the Asia Pacific is to reach two billion dollars in total revenue (VF Corporation-Press Release). The VF Corporation is confident that they will have the strategies and people to continue to grow so in 2004 they have launched a Growth Plan transforming VF into a global lifestyle apparel company. VF has identified six Growth Drivers that will help them succeed.
These six Growth drivers are:
- Transforming their portfolio with growing global lifestyle brands by investing in organic growth opportunities through acquisition.
- Going global by establishing platforms in Europe, Asia and Latin America.
- Serving the consumers directly by expanding their e-commerce capabilities.
- Lead in innovation “something new that creates” (VF Corporations – Growth Drivers)
- Enabling our future by investing in retail and supply chain capabilities that provide speed, flexibility and value.
- Win with winning customers by supporting customers’ vision.
VF is currently the fastest growing and biggest business in Outdoor & Action sports which accounts for half their global revenue. Their sporting brands continue to have tremendous opportunities for expansion in the new markets. VF’s Outdoor & Action Sports, Sportswear and Contemporary Brands are targeted to be more than 60% of total revenues by 2015. (VF Corporation-Our Strategy) With VF Corporations acquisitions, strong organic growth through their goals they have seen a steady growth over the past several years.
Chris and Brittany’s Paragraph: (Chris start this and add to intro) Everyone: (Why we recommend VF Corporation, a couple sentences) Buying VF Corporations stock would be advantageous to any investors. The numbers speak for themselves and the Wallstreetcheatsheet. com recommends investors to pay attention to this growing company. With VF Corporation’s diverse brands they have become a global leader in the apparel industry. Their Outdoor & Action Sports brands are continuing to grow with a record quarter in 2012, a total revenue rise of 14%.