VF predicts $3B in growth for TNF by 2015
As part of a five-year strategy initiative, The North Face brand plans to grow its revenues to $3 billion by 2015, its parent, VF Corp., (NYSE: VFC) told attendees at an investor meeting in New York City.
“In 2010, VF’s Outdoor & Action Sports Coalition will comprise more than 40 percent of VF’s total revenues and we expect these will continue to be our fastest-growing businesses over the coming years,” said Eric Wiseman, chairman and CEO of VF, in a statement. “The power and potential of The North Face brand will be a key driver of our growth.”
The company plans to meet its goal by reaching new consumers, investing in technology and innovation, driving growth in key geographic markets, including Europe and Asia, expanding global direct-to-consumer platform, and promoting outdoor participation.
Steve Rendle, president of VF’s Outdoor Americas Coalition and The North Face, said in a statement that the brand will build upon its 40-year heritage and commitment to premium outdoor gear to maintain its position in the marketplace.
The company added that it increased its investment in marketing by 45 percent in 2010, which helped generate 1.8 billion media impressions in the United States alone.
–Compiled by Wendy Geister
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