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In 1967, as sales growth for lingerie items was beginning to top off, Vanity Fair attempted to offset the effects by expanding into the robe and loungewear market.
VF Corporation went on to acquire H.D. Lee Company which is now popularly known as Lee, in the year 1969.
In 1970 some of Berkshire's unused factory space in Wyomissing, Pennsylvania, three miles west of Reading was converted into the first VF factory outlet store.
Meanwhile, in 1971, VF acquired Kay Windsor, Inc., a manufacturer of budget-priced, ready-to-wear women's dresses and sportswear.
In 1973, Health-tex was acquired by Chesebrough-Pond’s Inc., a marketer of consumer products.
In 1977 a VF Corporation International Division was established to manage the company's growing operations overseas.
The Rustler brand had been introduced by Blue Bell in 1979 as a basic jean to be sold through mass merchandisers.
In 1979 VF established an International Division to manage its growing operations overseas.
In 1980 Lawrence R. Pugh joined VF as president and chief operating officer.
Blue Bell acquired Jantzen in 1980, 70 years after the swimwear maker's founding.
Manford Lee lost a battle with cancer in early 1982, and Pugh became CEO in addition to president.
In 1982 Lawrence Pugh joined the company as president and became chairman the following year.
Following that record year, Pugh handed down his role as president to Mackey J. McDonald, while still remaining at the company's helm as chairman and CEO. McDonald was a one-time president of the Wrangler division who had worked his way through the ranks since joining VF in 1983.
Lee became the first brand to offer women's jeans with multiple fits, which were introduced in 1983.
VF also purchased Bassett-Walker, Inc., a producer of fleece activewear based in Martinsville, Virginia, in November 1984 for $293.3 million.
1984: Bassett-Walker, Inc., producer of fleece activewear, is acquired.
Health-tex was sold in 1985 in a leveraged buyout to a group of investors who subsequently sold the firm to VF six years later.
By 1989 declining jeans sales finally caught up to VF. In the past, whenever one division’s sales had slowed, VF had managed to survive the slump by relying on strong sales in its other divisions.
Agins, Teri, “Bottom Line: Once-Hot Lee Jeans Lost Their Allure In a Hipper Market,” The Wall Street Journal, March 7, 1991.
1991: Children's wear maker Healthtex, Inc. is acquired.
People, Product, Pride…The History and Heritage of VF Corporation and Its Divisions, Wyomissing, Penn.: VF Corporation, 1991.
The new initiatives helped propel revenues past $1 billion for the first time in 1993.
Wrangler, Inc., a division of VF Corporation, launched a new line of clothing in 1993.
The year 1994 was also characterized by cooperative endeavors between different VF divisions and other well-known companies.
Jantzen worked with Nike, Inc. to develop a new line of performance swimwear, while Nutmeg readied itself to launch some of its 1995 sports apparel under the Lee Sport name.
Unique projects and ideas such as those above, coupled with VF's conservative financial strategies and high level of brand name recognition by consumers, enabled the company to break the $5 billion mark in annual sales for 1995.
At the end of 1995, VF announced that it would close nine United States plants, laying off 3,800 workers in the process, and open new plants in Mexico and Central America.
Many in the industry felt the pinch, including VF, which saw profits decline nearly 20 percent in 1995.
Rosenberg, Joyce M. "There's a War out There, and VF Boss Knows It." Associated Press, February 7, 1996.
Garfield, Bob. "Lusty Jeans Watchers Provide Pants for Lee." Advertising Age, July 22, 1996.
According to market research firm NPD Group, United States jean sales hit $10.65 billion in 1996.
Then in October 1997 the company announced that it would break with its Pennsylvania roots by moving the corporate headquarters from Wyomissing to Greensboro, North Carolina, in order to locate the corporate staff closer to where much of the firm's marketing and support units were positioned.
Then in October 1997 the company announced that it would break with its Pennsylvania roots by moving the corporate headquarters from Wyomissing to Greensboro, North Carolina, in order to locate the corporate staff closer to where much of the firm’s marketing and support units were positioned.
Starting in 1997 the company's 17 domestic and foreign divisions were consolidated into five operating units called "coalitions": Jeanswear, Intimate Apparel, Knitwear, Playwear, and International.
Levi's share shrunk to 26.2 percent by 1997, whereas VF's grew to 31 percent.
In order to craft such an image for its Rugged Wear line, Wrangler turned to its advertising shop, the Martin Agency, in 1997.
VF succeeded in bolstering its intimate apparel lines by acquiring Bestform Group Inc. in February 1998.
Palmieri, Jean. "The New and Improved Wrangler." Daily News Record, March 2, 1998.
Lee president Terry Lay spoke with CNN's Biz Buzz and noted that NPD Group figures indicated that Lee's market share grew 16 percent in the first half of 1998.
Net income reached its peak in 1998 when the company reported $388 million.
Three more workwear companies were acquired in 1999: Horace Small (public safety and postal apparel), Todd Uniform (custom-designed business uniforms), and Fibrotek (clean-room apparel).
VF's acquisition spree continued in 2000.
In late 2000 a new Outdoor coalition was created to house North Face, Eastpak, and JanSport brands.
Restructuring charges for 2001 totaled $236.8 million, as the company aimed to cut its yearly operating costs by $115 million.
The chain reported a 24 percent drop in sales in April 2002 at stores open one year or more.
The cost-cutting efforts resulted in improved profitability for nearly every VF business in 2002, although all told the firm posted a net loss of $154.5 million as a result of restructuring charges and a $527.3 million charge taken for a change in accounting policy for goodwill.
Television spots for the campaign began running in June 2003.
Jeans Marketing." WWD, June 23, 2003.
For the initial launch in 2003, Fallon focused exclusively on television spots that ran on the major broadcast and cable networks, including ABC, CBS, NBC, Fox, MTV, and E! Entertainment Television.
By 2003, although Levi's had been in a five-year sales slump, it was still the most recognized brand in the denim category.
The campaign was successful in achieving its goals of restoring the cool image of the brand among young men and improving sales, and it won a Silver EFFIE in 2004.
Additional television spots were developed for subsequent use and were aired throughout 2004.
In 2004 Health Magazine named them "Dream Jeans" for their ability to please all of the women on the publication's editorial staff.
"Moms Are Getting Hip and Hot: Historic Jeans Maker Is Primed; Lee Jeans Touts Its One True Fit Jean the Choice of Hot Moms." PR Newswire, February 1, 2005.
Have you found your perfect fit? Lee." Cahill said that the campaign was also broadened in 2005 to appeal to the mothers of the young women in the original target demographic.
In the year 2007, the company acquired Majestic Athlete, 7 for All Mankind and Lucy Active wear.
The Vanity Fair brand of lingerie was sold to Fruit of the Loom in 2007 and subsequently the company’s name was changed to VF Corp.
Under the guidance of Eric Wiseman, President and CEO since 2008, VF Corp. strives to be innovative and ahead of the curve.
In its five-year growth plan, published in 2011, management targeted an additional $5 billion from organically generated revenues plus carefully selected acquisitions.
In 2012, the company recorded total revenues of $10.9 billion.
On January 14, 2013 the company made a bid for Billabong International Ltd. together with Altamont Capital Partners.
With the advent of e-commerce, they also launched their e-commerce portal in 2013.
With the company projecting 2013 cash flow of approximately $1.4 Billion, there are ample funds for capital investments as well as acquisitions.
"VF Corporation ." International Directory of Company Histories. . Encyclopedia.com. (June 21, 2022). https://www.encyclopedia.com/books/politics-and-business-magazines/vf-corporation-1
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| High Sierra Sport Company | 1977 | $9.0M | 50 | - |
| Tillys | 1982 | $569.5M | 1,400 | 394 |
| Samsonite | 1910 | $2.6B | 14,500 | 60 |
| L.L.Bean | 1912 | $1.6B | 5,100 | 132 |
| TUMI | 1975 | $547.7M | 1,577 | 96 |
| Shindigz | 1926 | $29.0M | 350 | - |
| The Label Company | 1999 | $1.8M | 25 | - |
| Gear for Sports | 1974 | $210.0M | 802 | - |
| Holloway Sportswear | 1946 | $160.0M | 700 | 2 |
| Workwear Outfitters | 1923 | $850.0M | 3,000 | - |
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JanSport may also be known as or be related to Jansport, JanSport, Inc., JanSport, Jansport, Inc. and JanSport Inc.