VF was organized in 1899, and it is a worldwide leader in branded lifestyle apparel, footwear, related products. The company’s total revenue in 2012 nearly eleven billion dollars, and its operating income was about 1.5 billion dollars. The company has 29 manufacturing facilities and nearly 1900 contractor facilities in 60 different countries. Today our class visited one of the five VF coalitions. The first coalition of VF is Outdoor and Action Sports. This coalition includes brands such as The North Face, Vans, and Timberland. The next coalition of VF is Imagewear. Red Cap and Bulwark are two of the brands in this coalition. Another coalition is Sportswear. Nautica and Kipling are two brands represented in this coalition. The next coalition is Contemporary Brands. We visited the fifth and final coalition of VF: Jeanswear. Jeanswear includes the popular brands Wrangler and Lee. Like the Imagewear coalition, Jeanswear has strong levels of profitability but lower growth rates.
Today our class had several speakers. The first speaker was Rustin Welton, the Chief Financial Officer for VF Jeanswear. He outlined the company as a whole for us, and then spoke specifically about VF Jeanswear. Our next speaker, Chris Williams, talked about the strategy of the company. Jackie Sullivan talked about some of the goals for the company. Rich Blaya talked about his merchandising job. The final two speakers talked about marketing.
The mission of VF Jeanswear reads, “We will create the leading jeans and lifestyle apparel in North America by offering our consumers branded product solutions at compelling values.” VF Jeanswear has several different customers. Companies such as K-Mart, Walmart, Target, Sears, and JC Penny are examples of places where one can find VF Jeanswear. Different types of customers come to these stores to buy VF Jeanswear. Today we heard the two different targets of VF Jeanswear’s marketing. One of these is the Western style. These jeans appeal to the cowboys of America. Country stars such as Jason Aldean and George Strait help advertise these jeans. The other target of marketing is the non-Cowboys. These jeans proved a loose fit great for relaxing, working, and much more. Athletes such as Brett Favre, Dale Earnhart Jr., and Drew Brees help advertise this side of the company. Each athlete represents a different value in the jeans. Customers value what these stars are advertising: the best pair of jeans. If a customer is satisfied, he or she will continue buying from VF Jeanswear. This promotes great results for the company. Although VF Jeanswear experiences a slower growth rate than the other coalitions, as stated earlier, it still is extremely profitable. As for a future plan, it is important that VF manages its goals and aspirations. This is mostly the work of Chris Williams and his team. He said that it is important to watch the change in the following: economy, demographics, competition, supply chain, and marketplace. If VF Jeanswear can see where the challenges and opportunities lie in these changes, then the company can adequately prepare and continue to succeed in the market.
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