VF announces strategy to strengthen its business in the Asia-Pacific region
By Prachi Singh
29 Jun 2020
VF Corporation has announced organizational changes to strengthen and accelerate the company’s business strategy in the Asia Pacific Region, while at the same time adding enhanced leadership support for its Emerging Brands platform. The company said in a statement that Kevin Bailey, Executive Vice President & Group President, APAC, will continue leading the company’s Asia Pacific Region, but will relocate from Hong Kong to Denver, Colorado, where he will also assume leadership of the company’s Emerging Brands platform, which includes the Altra, Eagle Creek, JanSport and Smartwool brands, and the Kipling and Icebreaker brands in the Americas Region. Bailey will continue reporting to CEO Steve Rendle and serving on VF’s Executive Leadership Team. With a specific focus on advancing its stated strategy of growing its business in China, VF has created the new position of President, Greater China. VF will announce the leader appointed to this position later this summer.
“When we introduced our new global business strategy in 2017, we declared our commitment to invest in our APAC region and accelerate growth for our brands, all with a particular emphasis on China,” said VF’s Chairman, President and CEO, Steve Rendle, adding, “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.”
The company added that establishing a leadership position responsible for Greater China, which includes Mainland China, Hong Kong SAR and Taiwan, creates an organizational structure that will enable VF and its brands to move faster and with focused agility to pursue growth opportunities in this important market. Today, Greater China represents about 65 percent of VF’s total business in the Asia Pacific Region. The company expects that percentage to grow to nearly 80 percent by fiscal year 2024.
“Our Asia Pacific business has been a key growth driver for VF in recent years and I look forward to continuing to lead the amazing APAC teams and advancing our regional business strategy with the added leadership support of a new President of Greater China. I’m equally energized by the opportunity to help lead our Emerging Brands platform,” added Bailey.
Picture credit: VF Corporation