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MarketScreener Homepage  >  Equities  >  Nyse  >  VF Corporation    VFC

VF CORPORATION

(VFC)
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VF Corporation : and its Timberland® Brand Collaborate with Redress to Support the Next Generation of Sustainable Fashion Designers

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09/03/2020 | 05:32pm EDT

VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, together with its Timberland® brand, today announced a collaboration with environmental charity Redress for the Redress Design Award 2020. Through the collaboration, VF and the Timberland® brand will lend their experience and expertise in sustainability to support the education and professional development of the industry’s next generation of sustainable fashion designers and champion the move toward a circular economy.

Celebrating the competition’s 10th anniversary, the Redress Design Award 2020 is the world’s largest sustainable fashion design competition which works to educate emerging fashion designers from around the world about sustainable design concepts and techniques.

As consumer interest in sustainable apparel continues to rise, VF is challenging some of the industry’s most promising young talents to disrupt the status quo and drive circularity and sustainability across the industry.

“Our collaboration with Redress, now in its second year, connects us to talented, emerging designers who are passionate about creating fashionable, compelling designs with environmental responsibility in mind,” said Kevin Bailey, VF’s Executive Vice President and Group President, Asia Pacific Region and Emerging Brands. “We are constantly inspired by their commitment to circular design and creativity. These are the future leaders who are going to help drive lasting and positive change throughout our global industry and we are proud to be part of their journey.”

While the Redress Design Award 2020 was held virtually this year on September 3, its impact has been seen worldwide. The 10 finalists were supported by an international judging panel that included VF’s Kevin Bailey and British fashion designer and Timberland® creative director Christopher Raeburn. The Menswear Category prize winner, Ngoc Ha Thu Le who is currently a fashion designer at Magenta Vintage in Hanoi, Vietnam, will collaborate with the Timberland® brand to develop a sustainable capsule collection for sale at retail. The release of the collection will coincide with the Chinese New Year 2022 and will be inspired by the Year of the Tiger.

Timberland® believes that a greener future is a better future, which makes our partnership with Redress such a natural fit,” said Mahmoud Salahy, Vice President and Managing Director, Timberland® Asia Pacific. “As a brand that’s deeply committed to environmental and social responsibility, Timberland® strives to not only minimize our impact on the planet through the products we make, but we’ve set a bold goal for all our products to have a net positive impact on nature by 2030. We are incredibly excited about the journey ahead and hope to inspire the industry as a whole to work together and positively shape our collective future.”

In the leadup to the Redress Design Award 2020 Grand Final, VF and the Timberland® brand hosted the “Made for Change Timberland® Challenge” on August 31, 2020. With guidance from VF and Timberland® subject matter experts, emerging designers competed to develop the most innovative and sustainable design concept for a range of iconic Timberland® products. Fashion designers Ruth Weerasinghe from Sri Lanka, Inhwa Jin from South Korea and Beatrice Bocconi from Italy were selected as winners of the challenge for their multi-purpose accessories concept that enhances product sustainability.

“The Redress Design Award equips fashion’s future leaders with real-life sustainability knowledge to give them the best chance to make a bigger positive impact during their long careers ahead. Our close partnership with VF, who connected participants with their exceptional team, provides designers with real-industry context to fast-track their sustainability journeys,” said Christina Dean, Redress Founder/Chair and The R Collective Founder/CEO.

Key highlights of the Redress Design Award 2020 Grand Final and the “Made for Change Timberland® Challenge” will later be available on: https://www.youtube.com/user/RedressAsia. Stay tuned.

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.

About Timberland®

Founded in 1973, Timberland® is a global outdoor lifestyle brand based in Stratham, New Hampshire, with international headquarters in Switzerland and Hong Kong. Best known for its original yellow boot designed for the harsh elements of New England, Timberland® today offers a full range of footwear, apparel and accessories for people who value purposeful style and share the brand’s passion for enjoying – and protecting – nature.

At the heart of the Timberland® brand is the core belief that a greener future is a better future. This comes to life through a decades-long commitment to make products responsibly, protect the outdoors, and strengthen communities around the world. To share in Timberland’s mission to step outside, work together and make it better, visit one of our stores, timberland.com or follow us @timberland. Timberland® is a VF Corporation brand.

About Redress

The Redress Design Award was developed by and is wholly organised by Redress, a pioneering environmental charity working to reduce textile waste in the fashion industry. They achieve this through a variety of dynamic programmes which work to minimise the negative impacts of fashion, whilst promoting innovative new models and driving growth towards a more sustainable industry via the circular economy. Working directly with a wide range of stakeholders, including designers, manufacturers, brands, educational bodies, government and consumers, Redress aims to create lasting environmental change in fashion.

© Business Wire 2020

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Financials (USD)
Sales 2021 9 065 M - -
Net income 2021 434 M - -
Net Debt 2021 2 735 M - -
P/E ratio 2021 66,4x
Yield 2021 2,61%
Capitalization 28 737 M 28 737 M -
EV / Sales 2021 3,47x
EV / Sales 2022 2,90x
Nbr of Employees 48 000
Free-Float 92,6%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 78,80 $
Last Close Price 73,75 $
Spread / Highest target 42,4%
Spread / Average Target 6,85%
Spread / Lowest Target -24,1%
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Steven E. Rendle Chairman, President & Chief Executive Officer
Scott A. Roe Chief Financial Officer & Executive Vice President
Velia Carboni Chief Technology & Digital Officer
Clarence Otis Independent Director
W. Alan McCollough Lead Independent Director
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