VF makes progress on spin-off of jeans business - sportstextiles: Lea SportsTextiles

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VF makes progress on spin-off of jeans business

14/11/2018
Apparel and footwear group VF Corporation has selected a historic textile mill as the home for select functions of its new jeanswear business. 

The group announced in August that it would separate into two independent entities. While its outdoor and active brands will continue to trade as VF Corporation, its denim brands, Wrangler and Lee, will be spun-off into a separate company.

This new entity, currently referred to as ‘NewCo’ will be based at Revolution Mill in Greensboro, North Carolina. An official name will be announced by the end of the year. 

This site is located just three miles away from the current home of VF’s jeanswear business, which serves as the home of the Wrangler brand and will be the future corporate headquarters for NewCo’s global business. The Lee brand will relocate from Kansas City to Greensboro. 

VF has signed a five-year lease with Revolution Mill. It will house merchandising, design, and product development and innovation activities, employing 125 people. 

“As we begin our NewCo journey, Revolution Mill is the ideal space to create an inspiring, creative working environment for our employees,” said Scott Baxter, CEO of NewCo. “We’re excited about what this space will offer our employees and brands, and we look forward to joining the vibrant community that exists on the Revolution Mill campus.”

Related stories:

VF completes separation into two companies 29/05/2019
VF separation to be completed on May 22 03/05/2019
Denim spin-off ‘the best path forward’ for VF 02/04/2019
Vans contributes to strong quarter for VF 23/01/2019
New acquisitions contribute to strong quarter for VF 24/10/2018
VF announces sale of one of its brands 04/10/2018
Interactive maps trace VF’s supply chain footprint 04/10/2018
VF selects location for new Denver headquarters 20/09/2018
VF sets ‘bold target’ for Vans 12/09/2018
VF plans to spin off its jeans business 16/08/2018

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