SBD/June 18, 2012/Marketing and Sponsorship

Vans Plans Expansion Into Athletic Footwear, Looks To Compete With Nike

VF Corp.’s Vans shoe brand “plans to expand into athletic footwear to compete with Nike,” according to Burritt & Coleman-Lochner of BLOOMBERG NEWS. Vans President Kevin Bailey said that the brand “will start selling the Vans LXVI, named for Vans’ founding in 1966, at sporting-goods and athletic retailers including Foot Locker Inc. and Footaction in two weeks.” The new line is “part of Vans’ push to boost sales" by $1B to $2.2B in five years. Bailey said that the shoe, “starting at $70, is aimed at young consumers who ‘are more likely to be a teen walking around the streets in a pair of running shoes or basketball shoes.’” He added, “This brings a new consumer into the Vans stable of footwear.” Bailey said that Vans “raised the heel of its new shoe to give it a more athletic feel and makes it without sewing and seams.” Burritt & Coleman-Lochner noted the company “also changed the checkerboard pattern on the bottom of its traditional Vans shoes to create a more flexible sole.” Bailey said, “We see a mainstreaming of action sports.” VF plans to “sell the new shoes globally, including in 350 Foot Locker stores and 50 Footaction stores in the U.S.” (BLOOMBERG NEWS, 6/14).
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