North Face continues to be one of VF's premier growth vehicles
03 Apr '07
1 min read
VF Corporation announced that it has acquired The North Face branded business in China from its licensee, Korea-based Youngone Corporation.
VF now assumes responsibility for continuing the brand's rapid growth in China, with the potential for $40 million in revenues within five years. In addition to its wholesale business, The North Face brand also has one freestanding retail store in Beijing.
Frank Cancelloni, General Manager - The North Face Asia/Pacific, will oversee the brand's continued expansion in China. The brand will operate from sales offices in Shanghai, Beijing and Guangzhou.
Commented Karl Heinz Salzburger, VF's President of Europe, Middle East, Africa (EMEA) and Asia, "The North Face brand continues to be one of VF's premier growth vehicles. This move will allow us to directly control the brand's destiny in this dynamic and fast-growing market."
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