Magazines Archives - 2007 May

VF Corporation acquires The North Face
Story 2

US-BASED branded lifestyle-apparel maker VF Corporation has acquired The North Face business in China from its South Korean licensee, Youngone Corporation.

Under the agreement, VF will continue The North Face brand’s growth in China. The brand has the potential to reap US$40 million in revenue within five years, said the company, which has a portfolio of international labels that include Wrangler, Lee, Kipling, Nautica and Eastpak.

Frank Cancelloni, general manager of The North Face Asia-Pacific, is expected to oversee the brand’s continual growth in the Chinese market. The brand will operate in the country from sales offices in Shanghai, Beijing and Guangzhou.

“The North Face continues to be one of VF’s premier growth vehicles,” said Karl Heinz Salzburger, VF’s president of Europe, Middle East, Africa and Asia. “[The acquisition] will allow us to directly control the brand’s destiny in this dynamic and fast-growing market.”

Currently, the North Face has a wholesale business and one freestanding retail store in Beijing.


2007 May Stories:

Pushing for contactless payment among Singapore retailers

CRC’s Zen Department Store set to become must-visit shopping destination

VF Corporation acquires The North Face

H&M debuts in China with Shanghai store

Tesco Malaysia in RM650-million expansion

Olympics spurring retail expansion in Beijing

Chinese consumer market set to be world’s second

Bharti, Wal-Mart to seal JV deal

Singapore’s GEMS service programme returns

Visa EMV chip cards achieve new milestone in the Asia-Pacific

Coles Group to spend A$133m on IT

Carrefour deploying PSC’s POS scanners in its stores

Australians still hampered by payment systems despite rise in online shopping

US consumers give e-commerce a thumbs-up

Order bento meals online

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