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Timberland expects to grow revenue by 1.4 billion US dollars

Sep 18, 2014 United States
Timberland expects to grow revenue by 1.4 billion US dollars
The announcement was made by Timberland's management during an investors meeting. The expectation is that total revenue should reach 3.1 billion US dollars by the end of 2019, representing growth of 13% per year
Timberland, an important player in outdoor lifestyle footwear and apparel, is a wholly owned subsidiary of VF Corporation, a global player in the design, manufacture, marketing and distribution of branded lifestyle apparel, footwear and accessories, with a diversified portfolio of 30 powerful brands (Timberland, Vans, The North Face), spanning numerous geographies, product categories, consumer demographics and sales channels.

“2014 will mark the most successful year in Timberland’s history – another clear example of VF’s powerful business model that enables brands to connect deeply with consumers, and drive growth and profitability, while preserving a unique DNA and culture,” commented Eric Wiseman, VF Corporation President, Chairman and CEO. “Since our acquisition in 2011, our work with the Timberland team has created an incredibly strong foundation for its next chapter of growth. We are proud of the progress Timberland’s made, and we’re bullish on the opportunity for this amazing brand.”

Patrik Frisk, VF Coalition President, Outdoor Americas and Timberland President, emphasized: “Being able to tap into VF’s powerful platforms has allowed us to realize significant synergies, giving us the tools and resources to invigorate the Timberland brand. Across products, channels and geographies – our consumer insights-driven strategy has Timberland squarely positioned to become the largest, most sustainable outdoor lifestyle brand on Earth.”

Over the next five years, Timberland expects substantial growth across all major geographic region: Americas, EMEA and Asia Pacific, with such performance to be driven by “industry leading innovation and product diversification; consistent channel discipline; meaningful expansion of its direct-to-consumer business; and a significant amplification of how Timberland communicates and connects the brand with consumers”.

Growth in the Americas region will account for nearly half of the anticipated 1.4 billion US dollars in total revenue growth (annual growth rate of 14%), balanced across both wholesale and direct-to-consumer channels.

In the EMEA region (Europe, Middle East and Africa) VF expects Timberland’s revenue to reach 1 billion US dollars by 2019, with an expected annual revenue growth rate of 10%, benefiting from further expansion into countries such as Germany, Austria and Switzerland.

The Asia Pacific (APAC) region is expected to double its business, growing at 15% per year and expected to reach 620 million US dollars by 2019. Good performance is expected to come from China and South Korea, which are “largely untapped markets for the brand”.

Timberland’s growth over the next five years is expected to be balanced across both wholesale and direct-to-consumer channels. Wholesale revenues are expected to grow by 825 million US dollars over the period to reach 2 billion US dollars (driven mainly by 13% annual growth in the Americas region, 8% growth in EMEA and 14 % growth in the APAC region.

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