VF’s Strategy to Re-Ignite Vans’ Momentum Kicks Off in June
Aiming to fuel product and marketing excitement behind its largest brand and regularly connect it to its most ardent customers, VF Corp. is launching a globally coordinated weekly drop cadence for Vans in June that marries product and experiential demand creation.
“Often time, it will be a weekly new product story. It could be a new style. It could be a co-lab,” VFC Chairman, President and CEO Steve Rendle told analysts last week. “…And what you see here is an opportunity for them (Vans) to take a very deliberate and coordinated effort to pull this stores together. And I think that’s just the learning we’ve taken from this last year, the need for that more frequent touch to the consumer.”
For the 12 months ended March 31, Vans’ global revenues were down 16 percent during the pandemic-impacted year with only the Asia-Pacific region (+8%) showing topline improvement. The brand’s Americas’ business, which rose 13 percent in the final quarter, was off 21 percent for the fiscal year. Vans’ EMEA business was off 15 percent in the FY.
VFC senior management is bullish about Vans’ ongoing growth possibilities in China, which currently generates approximately $500 million in annual sales, with brand distribution expanding beyond Tier 1 cities into the market’s digital space and into Tier 2, 3, and 4 markets.