Asia switch as VF moves focus away from Hong Kong
Apparel and footwear group VF Corporation has announced that it will move the centre of its brand operations in Asia from Hong Kong to Shanghai. The group said it already employs around 900 office and retail associates in Shanghai.
Its Asia product supply hub will also move away from Hong Kong, relocating to Singapore. It will also set up a shared service centre for the region in Kuala Lumpur.
VF said the moves will begin in April and continue over the next 12 to 18 months.
Chief executive, Steve Rendle, said the moves will be part of the group’s plan to become “a more consumer-minded, retail-centric and hyper-digital enterprise”. He said transforming its operations in Asia would help VF better serve “this fast-moving, technology-driven market”.
Moving the centre of brand operations to Shanghai will, VF has said, help it “forge stronger and more relevant relationships with Chinese consumers”, work more closely with key suppliers and drive greater efficiency.
It said Hong Kong would remain “a key retail market” for VF and its brands.
