VF Corp. Counting On Outdoor, Action-Sports Apparel For Five-Year Growth Plan
VF Corp. Friday said that it is "counting heavily on the surging popularity of its outdoors and action-sports apparel to help it reach an ambitious five-year growth initiative," according to Richard Craver of the WINSTON-SALEM JOURNAL. VF said that it "plans to reach $12.7 billion in revenues by 2015 -- up $5 billion from 2010 -- primarily through outdoors and action-sports apparel sales, as well as expanding internationally and with its retail stores." The company said that the "bulk, or $3 billion, of the revenue growth would come from its outdoor and action-sports apparel categories, which are led by The North Face and Vans brands." It added that "by 2015, the two categories should account for at least half of VF's total revenues." About $1B in revenue growth "would come each from jeanswear sales, led by the Lee and Wrangler brands, and combined from its sportswear, imagewear and contemporary-brands categories." VF also set a 15% "annual growth target for international sales, with Asia expected to lead the sales increase, followed by Europe -- its largest global market -- and the Americas" (WINSTON-SALEM JOURNAL, 3/12).