VF Corporation: Regional Transformation Plan to Enable Growth in Asia

VF Corporation: Regional Transformation Plan to Enable Growth in Asia

DENVER & SHANGHAI (STL.News) VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced a transformation plan for its Asia Pacific operations focused on evolving the region’s organizational design and footprint, and building new capabilities to accelerate growth for its brands.

As part of its transformation initiative, VF will move the center of its brand operations from Hong Kong to Shanghai where the company currently employs approximately 900 office and retail associates.  VF’s Asia Product Supply Hub, which serves as the base of operations for its global supply chain in the region, will also move from Hong Kong and relocate to Singapore.  An additional shared services center for the region will be established in Kuala Lumpur, Malaysia.  VF will activate a phased transition plan to guide these relocations over the next 12 to 18 months with the first moves expected in April 2021.

“Today’s announcement reinforces our commitment to invest in our business across the Asia Pacific region, while also supporting VF’s overall transformation plan to become a more consumer-minded, retail-centric and hyper-digital enterprise,” said Steve Rendle, VF’s Chairman, President and Chief Executive Officer.  “We established our presence in Asia 25 years ago and have continually shaped our business around the region’s many evolving opportunities. 

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