The primary individual shareholder of VF Corporation is Todd Barbey and the family – heirs of its founder, John Barbey – which holds a 5.2% ownership stake and other shares included in the family trust accounts, held through PNC Bank. Ownership is then distributed across institutional investors like The Vanguard Group (10.34%), Northern Trust Corporation (6.4%), BlackRock (6.2%), and Capital International Investors (5.6%). VF Corporation generated $11.8 billion in revenue in 2022, comprising brands like Vans, The North Face, Timberland, and Dickies.
Related To VF Corporation
VF Corporation Revenue
In 2020, VF Corporation generated revenue of $10.49 billion.
The company experienced a decline in revenue in 2021, with total revenue falling to $9.24 billion. This represented a decrease of approximately 11.9% compared to the previous year.
However, VF Corporation saw a strong rebound in revenue in 2022, with total revenue reaching $11.84 billion. This marked an increase of approximately 28.1% compared to 2021.
The significant increase in revenue in 2022 suggests a recovery from the challenges faced in 2021, and the company’s revenue surpassed its 2020 level.
Overall, the trend in revenue for VF Corporation over this three-year period indicates a temporary dip in 2021, followed by a robust recovery in 2022.
VF Corporation Revenue By Channel
In 2022, VF Corporation generated revenue from three primary sources: Wholesale, Direct-To-Consumer, and Royalty.
The company’s Wholesale revenue was the largest contributor, amounting to $6,371,190,000 (or approximately $6.37 billion). This represents the revenue generated from selling products to wholesalers, retailers, and other business partners.
The second-largest source of revenue was Direct-To-Consumer, which amounted to $5,404,075,000 (or approximately $5.40 billion). This represents the revenue generated from selling products directly to end consumers, typically through the company’s own retail stores, e-commerce platforms, and other direct sales channels.
The smallest source of revenue was Royalty, which amounted to $66,575,000 (or approximately $66.58 million). This represents the revenue generated from licensing the company’s brands, trademarks, or intellectual property to third parties in exchange for royalty payments.
Overall, the majority of VF Corporation’s revenue in 2022 came from its Wholesale and Direct-To-Consumer segments, with Wholesale being the largest contributor. Royalty revenue, while smaller in comparison, still contributed to the company’s overall revenue.
VF Corporation Revenue By Type
In 2022, VF Corporation generated revenue from three primary business segments: Outdoor, Active, and Work.
The company’s Outdoor segment generated revenue of $5,327,568,000 (or approximately $5.33 billion). This segment includes products and brands related to outdoor activities, such as hiking, camping, and adventure sports. The revenue from this segment represents sales of outdoor apparel, footwear, and equipment.
The Active segment generated revenue of $5,380,338,000 (or approximately $5.38 billion). This segment includes products and brands related to active lifestyles, such as athletic wear, fitness, and sports. The revenue from this segment represents sales of activewear, athletic footwear, and related products.
The Work segment generated revenue of $1,133,149,000 (or approximately $1.13 billion). This segment includes products and brands related to workwear and occupational safety. The revenue from this segment represents sales of workwear, protective clothing, and safety footwear for various industries and professions.
Overall, the majority of VF Corporation’s revenue in 2022 came from its Outdoor and Active segments, with both segments contributing similar revenue levels. The Work segment, while smaller in comparison, still contributed significantly to the company’s overall revenue.
Related Visual Resources
Slow Fashion
Slow fashion is a movement in contraposition with fast fashion. Where in fast fashion, it’s all about speed from design to manufacturing and distribution, in slow fashion, quality and sustainability of the supply chain are the key elements.
Patagonia Business Model
Patagonia is an American clothing retailer founded by climbing enthusiast Yvon Chouinard in 1973 who saw initial success by selling reusable climbing pitons and Scottish rugby shirts. Over time Patagonia also became a fashionable brand also for its focus on slow fashion. Indeed, the company sells high-priced clothing items built to last which it will repair for free.
Patagonia Organizational Structure
Patagonia has a particular organizational structure, where its founder, Chouinard, disposed of the company’s ownership in the hands of two non-profits. The Patagonia Purpose Trust, holding 100% of the voting stocks, is in charge of defining the company’s strategic direction. And the Holdfast Collective, a non-profit, holds 100% of non-voting stocks, aiming to re-invest the brand’s dividends into environmental causes.
Fast Fashion
Fash fashion has been a phenomenon that became popular in the late 1990s and early 2000s, as players like Zara and H&M took over the fashion industry by leveraging on shorter and shorter design-manufacturing-distribution cycles. Reducing these cycles from months to a few weeks. With just-in-time logistics and flagship stores in iconic places in the largest cities in the world, these brands offered cheap, fashionable clothes and a wide variety of designs.
Inditex Empire
With over €27 billion in sales in 2021, the Spanish Fast Fashion Empire, Inditex, which comprises eight sister brands, has grown thanks to a strategy of expanding its flagship stores in exclusive locations around the globe. Its largest brand, Zara, contributed over 70% of the group’s revenue. The country that contributed the most to the fast fashion Empire sales was Spain, with over 15% of its revenues.
LVMH Business Model
LVMH is a global luxury empire with over €79 billion ($83 billion) in revenues for 2022, spanning several industries: wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, and selective retailing. It comprises brands like Louis Vuitton, Christian Dior Couture, Fendi, Loro Piana, and many others.
Kering Business Model
Kering Group follows a multi-brand business model strategy. The central holding helps the brands and Houses part of its portfolio leverage economies of scale while creating synergies. At the same time, those brands are run independently. Kering is today a global luxury brand that made over €20 billion in revenue based on this multi-brand strategy. Within Kering Group are brands like Gucci, Bottega Veneta, Saint Laurent, and many more—the primary operating segments based on luxury and lifestyle.
Kering Brands
Kering is a luxury goods multinational founded in France by François Pinault in 1963. The company, which initially specialized in timber trading, grew via acquisitions and was listed on the Paris Stock Exchange in 1988. Two years later, Kering merged with a French conglomerate interested in furniture, department stores, and bookstores.
Ultra Fast Fashion
The Ultra Fashion business model is an evolution of fast fashion with a strong online twist. Indeed, where the fast-fashion retailer invests massively in logistics and warehousing, its costs are still skewed toward operating physical retail stores. While the ultra-fast fashion retailer mainly moves its operations online, thus focusing its cost centers on logistics, warehousing, and a mobile-based digital presence.
ASOS Business Model
ASOS is a British online fashion retailer founded in 2000 by Nick Robertson, Andrew Regan, Quentin Griffiths, and Deborah Thorpe. As an online fashion retailer, ASOS makes money by purchasing clothes from wholesalers and then selling them for a profit. This includes the sale of private label or own-brand products. ASOS further expanded on the fast fashion business model to create an ultra-fast fashion model driven by short sales cycles and online mobile e-commerce as the main drivers.
Real-Time Retail
Real-time retail involves the instantaneous collection, analysis, and distribution of data to give consumers an integrated and personalized shopping experience. This represents a strong new trend, as a further evolution of fast fashion first (who turned the design into manufacturing in a few weeks), ultra-fast fashion later (which further shortened the cycle of design-manufacturing). Real-time retail turns fashion trends into clothes collections in a few days or a maximum of one week.
SHEIN Business Model
SHEIN is an international B2C fast fashion eCommerce platform founded in 2008 by Chris Xu. The company improved the ultra-fast fashion model by leveraging real-time retail, quickly turning fashion trends in clothes collections through its strong digital presence and successful branding campaigns.
