VF Corporation To Establish Innovation Centers in California, North Carolina and New Hampshire
The company called its proposed centers a groundbreaking move in the apparel industry to focus on game-changing product innovations in technical apparel, footwear and jeans.
“These Global Innovation Centers will spark opportunities to fuel VF’s growth and shape the future of apparel and footwear,” said Eric C. Wiseman, Chairman and Chief Executive Officer. “From the mass market to the mountaintop and from the U.S. to South America, Asia and Europe, we will develop and deliver innovative, ‘must-have’ products for consumers.
Wiseman said the Innovation Centers are an important step in the further development of VF’s innovation platform. “In 2010, we first laid out our vision for the role that innovation would play in VF’s growth,” he said. “This move is critical to advancing our journey as it gives us a competitive advantage in the apparel industry. We will fully leverage what we learn by sharing output from the Innovation Centers across our 30-plus brands.”
The centers will be staffed with teams of scientists, engineers, technical designers and key talent who will combine proprietary insights with consumer needs and a deep understanding of technology and new materials. The expected outcome: breakthrough products that drive brand equity and long-term growth.
“This move is critical to advancing our journey as it gives us a competitive advantage in the apparel industry. We will fully leverage what we learn by sharing output from the Innovation Centers across our 30-plus brands,” the company said.
“Consumers buy and pay more for new, differentiated, value-adding products,” Wiseman added. “We will inspire consumers to buy our products and, as a result, drive revenue growth and even higher profitability.”
The company’s largest five brands are The North Face, Vans, Wrangler, Timberland and Lee. Other brands include 7 For All Mankind, Bulwark, Eagle Creek, Eastpak, Ella Moss, JanSport, Kipling, lucy, Majestic, Napapijri, Nautica, Red Kap, Reef, Riders, Splendid and SmartWool.
How are Uncertain Times Altering Company Location Strategies?
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
Infrastructure Investment as an Economic Stimulus Tool
34th Annual Corporate Survey & the 16th Annual Consultants Survey