VF Corporation

World's largest maker of clothing.

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Headquarters: 105 Corporate Center Blvd.
Greensboro, NC 27408
Employees: 59,000
CEO: Eric Wiseman
Stock Symbol: VFC

Website: http://www.vfc.com

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VF is the world's largest maker of clothing and accessories. It sells jeans, underwear, sportswear and outdoor clothing under a variety of brands. The company's largest brands are The North Face, Vans, Timberland, Wrangler, Lee and Nautica.

Other brands include 7 For All Mankind, Bulwark, Eagle Creek, Eastpak, Ella Moss, JanSport, Kipling, lucy, Majestic, Napapijri, Red Kap, Reef, Riders, Splendid and SmartWool.

The company is aiming its focus on building more brands to boost sales and targeting youthful, female customers. It's also expanding into China, Europe, Japan and India to gain more customers.

VF also markets apparel under licenses granted by Major League Baseball, the National Football League, the National Basketball Association, the National Hockey League, Harley-Davidson Motor Company, major colleges and universities, and individual athletes and related organizations.

The company operated 1,401 retail stores at the end of 2014 and expects to open 150 new stores in 2015.

In 2014, VF reported revenues of $12.3 billion, up 8% from the previous year. Net income was $1.04 billion. International revenues generated 33% of total sales. Outdoor and action sports clothing revenues increased 13% in 2014 to $7.19 billion. Jeanswear revenues were flat at $2.8 billion.

The company's direct-to-consumer business includes full-price stores, outlet stores and e-commerce. Direct-to-consumer revenues accounted for 26% of VF’s consolidated total revenues in 2014, compared with 24% in 2013.

VF operates 28 manufacturing facilities and utilizes at least 1,800 contractor manufacturing facilities in over 60 countries. VF has 26,000 employees in the U.S.

“Our powerful brands and the competitive advantage of our business platforms combined with our relentless focus on operational excellence delivered another year of strong returns for our shareholders,” said Eric Wiseman, VF Chairman, President and Chief Executive Officer. “Our four largest brands: The North Face, Vans, Timberland, and Wrangler, along with many of our other brands, were strong performers as we grew our business in every region and channel around the world.“ We are very pleased to report that Vans passed the $2 billion dollar mark in 2014 to become VF’s second $2 billion brand along with The North Face.”

History

In 1899, John Barbey and a group of investors launch the Reading Glove and Mitten Manufacturing Company in Reading, PA with an investment of $11,000. This company would be the predecessor for VF.

In 1912, the H.D. Lee Mercantile Company opened for business in Kansas City to meet the growing demand for work clothing including overalls, jackets and dungarees. In 1919, the company was renamed Vanity Fair Silk Mills and began manufacturing underwear.

In 1947, Wrangler Westernwear was formed to make jeans modeled after cowboys.

Vanity Fair would go public in 1951 and listed on the NYSE in 1966. Vanity Fair Mills would change its name to VF Corporation in 1969.

In 1986, VF would purchase Blue Bell Inc., maker of Wrangler and Rustler jeans and Jantzen swimwear.

In 2003, VF acquired Nautica Enterprises.

In 2008, VF paid $775 million for Seven For All Mankind, LLC and $110 million for lucy activewear, inc.

VF acquired Timberland Corp. in 2012 for $2 billion.

Benefits

Full-time associates (those scheduled to work 30 or more hours per week) are eligible for benefits. Waiting periods may vary according to the specific benefit plan.

Coverage is also available for family members, including spouse, same sex domestic partner (medical, dental, and vision only), and children.

Medical Coverage

All full-time VF associates have the option of enrolling in medical plans from a menu of providers. Most associates are offered PPO plans through Blue Cross Blue Shield and/or United Healthcare.*

Dental Coverage

All full-time VF associates have the option of enrolling in a dental plan through VF, primarily Metlife Dental.*

Vision Coverage

All full-time VF associates have the option of enrolling in a vision plan through VF, primarily Spectera or VSP.

Life and Accidental Death/Dismemberment Coverage

Full-time VF associates are covered by basic life insurance. Accidental death and dismemberment coverage also is available.

Disability Coverage

Full-time VF associates are eligible for disability programs.*

Retirement Savings Plan - 401(k) and Other Plans

Most VF Associates are eligible to participate in a 401(k) plan.

Vacation/Holiday Pay

Vacation and holiday pay is available to most VF associates. Vacation and holiday schedules and requirements may vary by work location.

Other Benefits Available to VF Associates*

• Tuition assistance
• Matching grant program
• Employee assistance programs
• Flexible Spending Accounts (health care and dependent care)
• Scholarships for children of associates
• VF product discounts
• Credit unions
• Direct deposit and payroll deduction services
• Community service volunteer opportunities
• Wellness programs
• Training and development opportunities

* Benefits may vary by work location.

Updated February 14, 2015