VF Corporation is an American worldwide apparel and footwear company founded in 1899 and headquartered in Denver, Colorado. The company's more than 30 brands are organized into three categories: Outdoor, Active and Work. The company controls 55% of the U.S. backpack market with the JanSport, Eastpak, Timberland and North Face brands. The headquarters is located in Denver, Colorado.
|Traded as||NYSE: VFC|
S&P 500 Component
|Founded||October 1899 (as Reading Glove and Mitten Manufacturing Company)|
Reading, Pennsylvania, U.S.
|Headquarters||Denver, Colorado, U.S.|
(Chairman, President and CEO)
|Products||Footwear & Apparel|
Number of employees
The company was established first as Reading Glove and Mitten Manufacturing Company in Pennsylvania in October 1899 by John Barbey and a group of investors. The company was started with $11,000 and a 320-square-foot (30 m2) factory that was leased for $60/month. It was incorporated in Pennsylvania on December 4 of that same year. The manufacture of undergarments began in 1919, accompanied by a name change to Vanity Fair Mills. Shares were initially sold to the public in 1951.
The H.D. Lee Company (now Lee) was acquired by the company in 1969 and the corporate name was changed to VF Corporation to reflect the more diverse product line. Blue Bell Inc., the owner of such brands as Wrangler and JanSport, was acquired in 1986, effectively doubling the size of VF and making it the largest publicly held clothing company.
The company sold its "Vanity Fair" lingerie business to Fruit of the Loom for $350 million in cash on January 23, 2007.
On February 28, 2007, VF Corporation acquired Majestic Athletic. On July 26, 2007, VF Corporation announced the purchase of 7 for all Mankind and Lucy Activewear for a combined $885 million. Eric C. Wiseman became President, CEO, and Chairman in 2008. Effective January 1, 2017 Steve Rendle took over CEO and President responsibilities.
In 2011, VF Corporation announced its intention to purchase Timberland for $2.2 billion. The deal closed in September 2011. On December 21, 2012, VF Imagewear was awarded a multimillion-dollar contract to provide uniforms and insignia for Customs and Border Protection officers. In February 2013, Imagewear was awarded a $50-million contract to manufacture uniforms for Transportation Security Administration officers.
In August 2018, it was announced that VF would be splitting into two separate companies. The jeans and outlet stores would be spun off as Kontoor Brands. VF maintained the sports apparel and footwear businesses and moved their corporate headquarters (and around 800 employees) to Denver, Colorado. An 11-story office building at 1551 Wewatta Street near Denver Union Station will become the new headquarters.
Kontoor Brands Inc. became a separate company with the stock symbol KTB on May 23, 2019. Kontoor includes Lee, Wrangler, Rock & Republic and VF Outlets. The company has 17,000 employees 600 at the headquarters at 400 North Elm Street in Greensboro, and merchandising, design, product development and innovation at Revolution Mill. A support center is located on South Elm-Eugene Street. Lee moved to Elm Street from Merriam, Kansas. CEO Scott Baxter said the name Kontoor referred to the "contour" of the body, but the original spelling could not be used.
- Red Kap
- Horace Small (The Force), a clothing company based in Nashville, Tennessee, that produces uniforms for law enforcement, fire, EMS, security and land management services. It was founded in 1937. In 1999 the company was acquired by VF Corporation, and was renamed as The Force in 2005 but reverted to the original brand name in 2010.
- Bulwark Protective Apparel
- Timberland PRO
- VF Solutions
Outdoor and action sports
Date of acquisition or merger in parenthesis.
- Kipling U.S. (2004)
- Vanity Fair (sold in 2007 to Fruit of the Loom)
- 7 for All Mankind (sold in 2016 to Delta Galil Industries)
- Splendid (sold in 2016 to Delta Galil Industries)
- Ella Moss (sold in 2016 to Delta Galil Industries)
- Majestic Athletic (sold in 2017 to Fanatics)
- Nautica (sold in 2018 to Authentic Brands Group)
VF Outlet, Inc.
In 1970, it was the suggestion of M.O. Lee, then President of VF Corporation, that established the VF Outlet business. Surplus products from VF sources including Berkshire International and Vanity Fair were sold to the public from a 5,000 square foot factory store, with only a drop cloth separating it from the company's manufacturing facility. In doing so, VF Corporation created a brand-new retail industry, the outlet mall. The first VF Outlet factory store opened in Reading, Pennsylvania. The outlet mall, located in Vanity Fair's old manufacturing mills, was dubbed the official "Outlet Capital of the World." The corporate name was changed from VF Outlet Village to VF Outlet Center in 2008. Today, the VF Outlet Center is owned and operated by VF Outlet, Inc. with over 1,000,000 square feet of retail space and more than 20 stores.
VF Outlet stores offer everyday apparel including brand name jeans, intimate apparel, activewear, swimwear, and more for women, men and children. The company currently operates 79 stores in 31 states nationwide.
In October 2013, VF Outlet launched their ECommerce store.
- "V F CORP 2018 Annual Report Form (10-K)" (PDF). VF Corporation. February 26, 2018.
- "VF on the Forbes Global 2000 List". Retrieved 18 December 2014.
- "VF Corp (VFC) Company Profile". Retrieved 18 December 2014.
- Tabuchi, Hiroko (2 September 2015). "Backpack Makers Rethink a Student Staple". The New York Times. Retrieved 14 September 2015.
- VF Corp. Changes Its Underware
- "VF Corp. Has The Midas Touch". Retrieved 22 April 2015.
- "Eric Wiseman, Chairman, President, CEO, VF". Bloomberg. Retrieved 25 November 2014.
- "Imagewear CBP Contract". Retrieved 7 March 2015.
- "Imagewear TSA uniform contract". Retrieved 7 March 2015.
- "VF Corporation, parent company of outdoor brands The North Face, Smartwool, will relocate headquarters, 800 workers to Denver".
- Craver, Richard (25 May 2019). "Kontoor begins independent life with focus on jeans innovation, attracting new customers". Winston-Salem Journal. Retrieved 26 May 2019.
- Wilson, Carl (May 23, 2019). "The shape of things: Jeans company Kontoor promises to 'develop deep roots' in Greensboro". Greensboro News and Record. Retrieved May 31, 2019.
- Craver, Richard (December 6, 2018). "VF chooses Kontoor Brands as name for Jeanswear spinoff". Winston-Salem Journal. Retrieved December 9, 2018.
- "VF Corp buys Dickies for $820 million"
- "Horace Small". www.vfimagewear.com. Retrieved 21 July 2017.
- "VF Imagewear Relaunches Horace Small Brand of Law Enforcement Apparel". Retrieved 21 July 2017.
- "About VF Outlet". VFOutlet.com. Archived from the original on 13 April 2015. Retrieved 17 June 2015.
- "Reading Officially 'Outlet Capital Of The World'". 1 September 1991. Retrieved 17 June 2015.
- "Store Listings & Center Map". VFOutletCenter.com. Retrieved 17 June 2015.
- "VF Outlet Store Locator". Archived from the original on 18 April 2015. Retrieved 17 June 2015.
- "VF Outlet - Discount Clothing for Women, Men, Kids & Baby". Retrieved 17 June 2015.
- "EX-21". www.sec.gov. Retrieved 21 July 2017.