Vans & VF Action Sports President Kevin Bailey on Thursday appeared on CNBC's "Squawk Alley" to discuss the brand's 50th anniversary and its use of social media for marketing. CNBC's Kayla Tausche said, "It's an iconic brand in the skateboarding scene and has gone viral in social media recently." She asked, "In 2016, 50 years in, what's the best way, the most bang for your buck that Vans has in reaching potential customers?" Bailey: "Social media is definitely one of the platforms where we are really active with the consumer set. It allows us to have a two-way conversation." Bailey noted the company has retail stores "around the world that allows us to every day interact with our consumers on a regular basis. It's really across multiple platforms because we think that's where our youth culture lives." Bailey said of the company's use of social media, "We definitely shifted a great deal towards the digital front and the social front. ... In terms of the platforms, we find all the platforms really relevant." CNBC's Carl Quintanilla said increasingly in footwear, it "seems to be about performance." He asked, "How much are you under pressure to increase the performance aspect of the product?" Bailey: "We're not viewed probably as the most innovative product when you hold a pair of canvas, vulcanized Vans in your hand, you say, 'Well, it doesn't look too technical.' However, we have brought out Pro Classics which takes our classic shoe and brings in very technical performance features." The company has "felt pressure" to increase performance aspects of its shoes, but "really it's about what our consumers want from us versus what we feel pressure from the industry to do" ("Squawk Alley," CNBC, 4/6).
