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Vans Looks for Answers, New President


With a brand turnaround unlikely to occur over the next six months and parent VF Corp. embarking on an aggressive ‘Re-invent’ strategy focused on many aspects of its business, Vans is looking for a new global president. Kevin Bailey, currently in the position, is leaving the post but remaining on VFC’s corporate executive team where he will lead the ‘Re-invent’ transformation strategy. VFC CEO Bracken Darrell, who joined the parent from Logitech in July, will take a more active role at Vans during the executive search process.

In Q2 ended Sep. 30, sellthroughs for Vans were slow and traffic in its stores was challenged as brand sales sunk by 23 percent to $748.8 million. Darrell told analysts that Vans needs to do more to generate more consumer demand. Already, the business has been closing retail stores and evaluating its wholesale distribution channel strategy.

Meanwhile, VFC has set to task on a comprehensive plan to turnaround its overall business, including Vans. Elements of the strategy include the establishment of a global commercial organization to be led by a promoted Martino Scabbia Guerrini, now chief commercial officer; approximately $300 million in cost reductions; and actions to strengthen the company’s balance sheet.