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V.F. CORPORATION

(VFC)
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V F : Dickies piloting AI-driven consumer experience for Chinese shoppers

05/10/2021 | 10:51am EDT

Dickies, which sells durable workwear, is piloting a personalized fitting experiencing on Alibaba Group's Tmall platform in China.

The AI-forward body measuring and fit experience was created with 3DLook Partners and the pilot program is the first of its kind for VF Corp., Dickies' parent company, according to a press release.

The pilot program aims to provide shoppers with highly accurate size and fit recommendations,

"We're honored to be working with the forward-thinking team at VF Corporation to develop a solution that will enable a highly personalized and seamless Dickies shopping experience for a new generation of online customers," Whitney Cathcart, chief strategy officer and co-founder of 3DLOOK, said in the release. "We're excited to execute this pilot program and look forward to extending it in the future, as it has the potential to completely transform the customer fit experience and become the foundation of a more efficient and sustainable manufacturing business model."

Shoppers on the Dickies Tmall store choose a style and click on a measurement widget to be voice-guided through a quick, easy and engaging process that uses just a front and a side photo. The solution then maps the shopper's body and shape data with product data to determine what size would fit them best.

"A few years ago, VF Corporation embarked on a journey to digitize its brands' product creation and go-to-market processes," Adela Tan, vice president and managing director, Dickies, said in the release. "The pandemic only accelerated our need to use digital technologies to become more agile and responsive to consumers' demands and fit recommendation was one of the top opportunities we identified. We chose to partner with 3DLOOK and launch this project on Dickies' Tmall flagship store to target China's digitally savvy Gen Z consumers and better understand their appetite for such functionality, so we can incorporate the learnings and scale our efforts across multiple brands and regions."

Copyright © 2021 Networld Media. All rights reserved., source Industry News

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Financials (USD)
Sales 2022 11 847 M - -
Net income 2022 1 203 M - -
Net Debt 2022 2 955 M - -
P/E ratio 2022 25,9x
Yield 2022 2,49%
Capitalization 31 259 M 31 259 M -
EV / Sales 2022 2,89x
EV / Sales 2023 2,69x
Nbr of Employees 33 600
Free-Float 92,7%
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Number of Analysts 24
Average target price 93,86 $
Last Close Price 79,67 $
Spread / Highest target 38,1%
Spread / Average Target 17,8%
Spread / Lowest Target -22,2%
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Managers and Directors
NameTitle
Steven E. Rendle Executive Chairman, President & CEO
Matt Puckett Chief Financial Officer & Executive Vice President
Velia Carboni Executive VP, Chief Technology & Digital Officer
Clarence Otis Independent Director
W. Alan McCollough Lead Independent Director
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