Information regarding VF's webcast of "The Next Five Years" can be found at the end of this release.The webcast begins today at 9:30 a.m. ET.
- $3 billion from Outdoor & Action Sports, where revenues have grown on average by 17 percent over the past five years. Building on well-established and highly profitable domestic, international and direct-to-consumer platforms, The North Face(R) and Vans(R) brands, which account for 75 percent of total coalition revenues, are targeting annual growth of 16 percent and 13 percent, respectively. By 2015, Outdoor & Action Sports should account for at least half of VF's total revenues.
- $1 billion from growth in Jeanswear through the Wrangler(R) and Lee(R) brands, led by expansion in international markets such as Asia, Europe and Latin America.
- $1 billion from higher revenues across Sportswear, Imagewear and Contemporary Brands, combined, over the next five years.
- 15 percent annual growth in international revenues. Asia will be VF's fastest growing market, with revenues by 2015 of $1.3 billion, representing an annual growth rate of 28 percent. VF's largest international market, Europe, and the Americas region are both targeted to grow 11% annually.
- 15 percent annual growth in direct-to-consumer revenues. More than 700 new stores across a variety of VF brands will be opened during the next five years, bringing the total number of stores to about 1,500 by 2015. E-commerce revenues are expected to triple during this period, reaching nearly $400 million.
SOURCE: VF Corporation
VF Services Cindy Knoebel, CFA VP, Corporate Relations 212-841-7141/336-424-6189 firstname.lastname@example.org