VF Corp. is looking to the future with changes for both its China and its emerging brands businesses.
The company, parent to Vans, The North Face and Timberland, is rejiggering its operations in Asia with plans to create a new position, president, Greater China, this summer.
The person who takes up that post will be responsible for VF businesses in Mainland China, Hong Kong and Taiwan. Greater China represents about 65 percent of VF’s overall business in the Asia-Pacific region and is expected to grow to nearly 80 percent by fiscal 2024.
VF’s Chairman, president and chief executive officer Steve Rendle said: “When we introduced our new global business strategy in 2017, we declared our commitment to invest in our [Asia Pacific] region and accelerate growth for our brands, all with a particular emphasis on China. 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. We look forward to announcing our appointment later this summer.”
Kevin Bailey, executive vice president and group president of the Asia Pacific business, will continue to lead it, but will relocate from Hong Kong to VF’s hometown of Denver, where he will assume leadership of the the company’s emerging brands business. That includes Altra, Eagle Creek, JanSport and Smartwool brands as well as the Kipling and Icebreaker brands in the Americas Region.
Bailey continues to report to Rendle and remains on the company’s executive leadership team.
Rendle said: “Although they’re the smaller brands by revenue in our overall portfolio, our group of emerging brands present considerable opportunities for growth. It’s important to remember that our global, multi-billion-dollar brands such as Vans and The North Face were once emerging brands when VF acquired them. Enabling great brands to achieve their full potential is a core competency at VF, and Kevin is the ideal person to work closely with our brand leaders to help guide these brands into the future.”