VF to name premiere president of Greater China, focus on growing emerging brands
VF Corporation has created a new role to boost its business strategy in the Asia Pacific Region, and will also relocate one of its APAC executives in order to grow its 'Emerging Brands' platform.
With a particular focus on strengthening its China business, the company has created the new role of president, Greater China. The role will oversee the company's business and its brands - which include Timberland, Vans and The North Face, among others - in Mainland China, Hong Kong SAR and Taiwan.
According to the company, Greater China represents about 65% of VF’s total business in the APAC region, and the company expects that percentage to grow to nearly 80% by fiscal year 2024.
VF said it will appoint someone to the position later this summer.
“When we introduced our new global business strategy in 2017, we declared our commitment to invest in our APAC region and accelerate growth for our brands, all with a particular emphasis on China,” said CEO Steve Rendle. “By creating the new position of president, Greater China, we’re leaning even further into the many opportunities we see to elevate our business and brands in this fast-moving, digitally-driven marketplace.”
VF also announced that Kevin Bailey, the company's executive vice president and group president, APAC, will relocate from Hong Kong to Denver, Colorado, the home of the company's global headquarters. There, he will continue to lead the region. He will also assume leadership of the company’s 'Emerging Brands' platform, which includes the Altra, Eagle Creek, JanSport and Smartwool brands, as well as the Kipling and Icebreaker brands in the Americas Region.
From his new location, Bailey will continue to report to Rendle and serve on VF’s executive leadership team.
“Our Asia Pacific business has been a key growth driver for VF in recent years and I look forward to continuing to lead the amazing APAC teams and advancing our regional business strategy with the added leadership support of a new President of Greater China,” said Bailey. “
And, I’m equally energized by the opportunity to help lead our Emerging Brands platform and collaborate with our brand leaders to pursue the significant opportunities in front of us.”
VF first unveiled plans to grow its China business and its emerging brands during the company’s September 2019 Investor Day, and has since changed some of its financial projections in response to the impact of the Covid-19 pandemic.
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