VF Corporation Exploring Strategic Alternatives for its Licensed Sports Group Business
March 25 2016 - 11:00AM
Business Wire
VF Corporation (NYSE: VFC) today announced that it is exploring
strategic alternatives for its Licensed Sports Group (LSG)
business, a division of VF’s Imagewear coalition.
“As active portfolio managers, we constantly assess the
composition of our company to ensure VF’s portfolio is aligned with
our strategic objectives and positioned to maximize growth and
return to our shareholders,” said Eric Wiseman, VF’s Chairman and
CEO. “In this respect, we are exploring options for our LSG
business to position the organization to continue its success and
achieve its future potential.”
VF’s LSG business, which includes the Majestic® brand, supplies
apparel and fanware through licensing agreements with U.S. and
international professional sports leagues, colleges and
universities, and lifestyle brands.
Revenues for VF’s Imagewear coalition reached $1.1 billion in
2015, with LSG representing about half of that amount. This review
of strategic alternatives does not include the Image division of VF
Imagewear, which produces workwear worn by millions of workers in
the industrial, service and government sectors.
About VF
VF Corporation (NYSE: VFC) is a global leader in the design,
manufacture, marketing and distribution of branded lifestyle
apparel, footwear and accessories. The company’s highly diversified
portfolio of 30 powerful brands spans numerous geographies, product
categories, consumer demographics and sales channels, giving VF a
unique industry position and the ability to create sustainable,
long-term growth for our customers and shareholders. The company’s
largest brands are The North Face®, Vans®, Timberland®,
Wrangler®, Lee® and Nautica®. For more information,
visit www.vfc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160325005167/en/
VF CorporationLance AllegaVP, Investor
Relations336-424-6082orCraig HodgesSenior Director, Corporate
Communications336-424-5636
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