“Our 2021 strategic growth plan fuels our aspiration to consistently grow by creating amazing products and brand experiences that transform and improve the lives of consumers worldwide,” said Steve Rendle, President and Chief Executive Officer, adding: “VF has some of the most beloved and iconic brands in the world and a talented organization that has the passion and commitment to thrive in a rapidly changing marketplace.”

The 2021 strategic growth plan announced by VF Corporation addresses the quickly changing market landscape and focuses on four strategic choices:
1) reshaping the company’s brand portfolio and enabling VF’s powerful brands;
2) transforming to a consumer and retail-centric model;
3) elevating direct-to-consumer while prioritizing digital;
4) distorting investment toward Asia, with a heightened focus on China.

The company believes these strategic pillars will be enabled by amplified investments and focus on six critical capabilities, including: design and innovation, demand creation and brand experience, insights and analytics, retail excellence, demand and supply chain agility, and talent.

As a result, revenue through 2021 is expected to grow at a five-year compounded annual growth rate (CAGR) between 4% and 6%, fueled by VF’s largest brands (the Vans, The North Face and Timberland brands) and the company’s International and Direct-to-Consumer business platforms.