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VF Corporation Releases Third Annual Profile on Inclusion, Diversity, Equity and Action (IDEA)

11/15/2021 | 06:56am EST

Annual profile outlines VF’s inclusion and diversity strategy, progress toward commitments

VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today published its third Inclusion, Diversity, Equity and Action (IDEA) Annual Profile. Covering the company’s fiscal year 2021, the report defines the key strategic pillars that serve as the drivers and benchmarks for VF’s IDEA goals.

VF has publicly committed to two aspirational employee representation goals and provides annual visibility into the company’s progress. By 2030, VF intends to achieve gender parity at the director level and above globally, and 25% BIPOC representation in the U.S. at the director level and above. During fiscal year 2021, VF saw growth against both goals, with those who identify as women comprising 41% of the director and above population globally, and BIPOC associates representing 16% of the director and above population in the US.

At the end of fiscal year 2021, the overall representation of women globally across all levels of VF’s workforce was 55%. Similarly, BIPOC associates within the US across all levels in the organization was also at 55%. In addition, during fiscal year 2021, one-third of the company’s Board of Directors identified as women and 17% identified as a member of the BIPOC community.

“Our IDEA Annual Profile celebrates and highlights the many ways our associates and leaders have mobilized to support our associates, our consumers, our industry, and the communities we serve around the world,” said Lauren Guthrie, VF’s Vice President of Global Inclusion, Diversity, Equity and Action. “The efforts and achievements outlined in the report are rooted in building and maintaining a workplace that celebrates diversity and prioritizes allyship, advocacy and authentic belonging while driving focused actions to advance equity and social justice. The profile also points the way to the work still ahead of us, including how we’re progressing in diverse representation and where we plan to invest going forward. As we embrace our corporate responsibility to actively promote the betterment of people and planet, VF is committed to addressing the many ways inequities affect all of us.”

VF has also identified three strategic pillars to evolve the standards of an inclusive environment among brands and employees.

1. Employees and Culture: Achieving an environment of inclusion and belonging begins in the recruitment process and extends across the entire employee journey. VF has created a variety of learning tools, including an Inclusive Hiring Guidebook, to minimize the impact of bias in the company’s recruiting processes and relaunched a new global learning journey to connect employees with the principles of IDEA. VF has also prioritized listening sessions and wellbeing initiatives to ensure its employees are fully supported and embraced as they bring their whole selves into the workplace.

2. Brands and Consumers: Engaging the VF family of brands in all IDEA endeavors is an essential part of VF’s IDEA strategy. VF’s brands engage consumers in direct dialogue around inclusion, diversity and equity, while continuing to focus on amplifying values that transcend demographics. VF’s IDEA Annual Profile documents successes at the brand level including:

  • The Timberland® brand intensified its focus on fighting systemic racism through new programs and partnerships centered on community, design education and entrepreneurship.
  • The North Face® brand catalyzed the #stophateforprofit initiative and announced the relaunch of The Explore Fund to embed equity as a key component of the brand’s philanthropy and community engagement strategies.
  • The Smartwool® brand partnered with Outdoor Afro and Environmental Learning for Kids to support urban youth and the BIPOC community.

3. Society and Movements: The report also reinforces VF’s global intention to support programs and organizations that promote inclusivity across gender, ability, ethnicity, lifestyles and economics through brand partnerships and the charitable work of the VF Foundation.

Guthrie concluded, “Injustice is a global humanitarian issue, and the life-altering circumstances of this past year have catalyzed social upheaval seen and felt around the world. The actions we take — from the smallest gestures to the boldest moves — will continue to evolve as we work to lift up our communities and help create an equitable world.”

About VF Corporation

Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.

© Business Wire 2021
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Financials (USD)
Sales 2022 11 949 M - -
Net income 2022 1 321 M - -
Net Debt 2022 4 174 M - -
P/E ratio 2022 19,8x
Yield 2022 2,87%
Capitalization 26 124 M 26 124 M -
EV / Sales 2022 2,54x
EV / Sales 2023 2,35x
Nbr of Employees 33 600
Free-Float -
Duration : Period :
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 68,00 $
Average target price 84,69 $
Spread / Average Target 24,5%
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Managers and Directors
Steven E. Rendle Executive Chairman, President & CEO
Matt Puckett VP-Global Financial Planning & Analysis
Velia Carboni Executive VP, Chief Technology & Digital Officer
Clarence Otis Independent Director
W. Alan McCollough Lead Independent Director
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