VF Corporation

VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands.

History

VF Corporation was founded in 1899 by John Barbey and a group of investors as Reading Glove and Mitten Manufacturing Company in Reading, Pennsylvania. The company expanded into silk lingerie in 1913 and rebranded its products as Vanity Fair. The company name changed to Vanity Fair Mills in 1919 and went public in 1951.

In 1969, the company acquired H.D. Lee Company, a jeans maker, and changed its name to VF Corporation. Since then, VF Corporation has grown through acquisitions of various brands, such as Wrangler, JanSport, The North Face, Vans, Timberland, and Supreme.

In 1998, the company moved its headquarters from Wyomissing, Pennsylvania to Greensboro, North Carolina to be closer to more of its operations. In 2019, the company relocated its global headquarters to Denver, Colorado, while retaining its Greensboro office as the headquarters for its jeans and outlet businesses.

VF Corporation owns and operates 13 brands that are organized into three categories: Outdoor, Active and Work.

• Outdoor: The North Face, Timberland, Icebreaker, Smartwool, Altra and Eagle Creek
• Active: Vans, The North Face, Kipling, Napapijri, Eastpak, JanSport and lucy
• Work: Dickies, Timberland PRO, Red Kap, Bulwark, Horace Small and VF Solutions

These brands offer a wide range of products, such as apparel, footwear, backpacks, luggage, accessories, and workwear, for various consumer segments and markets.

Responsibility

VF Corporation is committed to driving a more equitable and sustainable world through its business and the industry. The company has a vision to be the most sustainable and purpose-led apparel and footwear company in the world.

The company has four pillars of responsibility: Empowered People, Circular Products, Responsible Sourcing and Thriving Communities.

• Empowered People: The company aims to foster a diverse, inclusive and equitable culture that respects and values human rights, dignity and well-being. The company also supports the development and empowerment of its associates, suppliers and communities.
• Circular Products: The company strives to design and make products that are circular by nature, meaning they can be reused, repaired, recycled or regenerated. The company also seeks to reduce its environmental impact and carbon footprint across its value chain.
• Responsible Sourcing: The company works to source its materials and services responsibly and ethically, ensuring that they meet the highest standards of quality, safety and sustainability. The company also collaborates with its suppliers and partners to improve their social and environmental performance.
• Thriving Communities: The company contributes to the social and economic development of the communities where it operates and sources. The company also supports causes and initiatives that align with its purpose and values, such as education, health, environment and social justice.

The company reports its progress and performance on its responsibility goals and initiatives through its annual Made for Change report and other disclosures.

Investors

VF Corporation is a publicly traded company listed on the New York Stock Exchange under the ticker symbol VFC. The company has a market capitalization of about $36 billion as of November 2021.

The company has a diversified and balanced portfolio of brands that generate strong and consistent cash flows and returns. The company also has a disciplined capital allocation strategy that prioritizes investing in its organic growth, paying dividends, making strategic acquisitions and repurchasing shares.

The company has a long history of delivering shareholder value and increasing its dividend. The company has paid dividends for 49 consecutive years and has increased its dividend for 48 consecutive years. The company has a current dividend yield of about 2%.

The company also has a robust corporate governance structure and practices that ensure accountability, transparency and alignment with its stakeholders. The company has a board of directors composed of 12 members, 11 of whom are independent. The company also has four board committees: Audit, Compensation, Nominating and Governance, and Finance.

The company communicates with its investors and analysts through quarterly earnings releases and conference calls, annual reports and proxy statements, investor presentations and events, and other filings and disclosures. The company also provides guidance and outlook for its financial performance and key metrics.