VF’s mission
VF Corporation was founded in 1889, there’s always had a passion for the real letter makes and believes that the deep understanding of the need to the consumer. This is very proven through VF’s success through the years. Recently brands like Timberland vans Wrangler North face and a great selling points for the company. Because they have so many brands they are able to market to a wide range of customers.
VF’s Customers
Since VF has so many different lines of clothing and footwear it can reach customers in all walks of life, in fact VF has even started to make a name for herself as an international company. VF is devoted to its customers and satisfying its customers needs, in order to do this it has to constantly innovating, new products and new trends different fashions.
VF’s Customer Values
Yes customers value quality products, products that are both functional and aesthetically pleasing. VF prides itself in being on the cutting edge of the fashion industry at all times. For example bands has become the skate shoe of choice, creating a clothing line as well, and a recent years has become even more fashionable. Wrangler’s timelessness as a jeans maker ensures the company’s continued success because genes never really go out of fashion.
VF’s Results
As a result VF is worth over $11 billion, and it prides itself as being one of the most diversified apparel and footwear companies in the world. PF attributes the success to a highly diversified highly effective business model. VF covers apparel from outdoor to sports to jeans wearing casual to footwear and imagewear.
VF’s Plan
The goal of VF has always been to exceed customer expectations. To satisfy the school it looks for associates who are like-minded with the company. People who are passionate about the fashion industry and want to deliver a superior product. Currently the fastest growing division in VF is the outdoor and sport division. This division consists of Reef Timberland vans JanSport and The North face. In the future these brands should see the most growth.
“With a goal of reaching $17.3 billion in revenues by 2017 – driven primarily by strong growth from our highly profitable Outdoor & Action Sports, international and direct-to-consumer businesses – we expect our earnings per share to reach $18.00.
During the next five years, we are targeting a 300 basis point improvement in gross margin, to 49.5 percent, and a 250 basis point increase in our operating margin, to 16 percent, when compared to our 2012 results.
Our international business, which is expected to grow at an average compounded annual rate of 13 percent, should reach 43 percent of total VF revenues in 2017, up from 37 percent achieved in 2012. Additionally, our direct-to-consumer business is targeted to reach $4.4 billion by 2017, and should account for 25 percent of VF’s total revenues by the end of the next five years.” (VF website)
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