VF Corporation is an apparel, footwear, and accessories company. The company has announced its transformation plan for Asia, including its organizational design and footprint and building new capabilities to accelerate growth for its brands.
The company will activate a phased transition plan to guide these relocations over the next 1 to 1.5 years, with the first moves expected in April 2021. The transformation includes moving offices from Hong Kong to Shanghai and Singapore. In Singapore, the company will move its Global supply head and relocate brand operational offices in Shanghai.
Meanwhile, Kuala Lumpur, Malaysia, has been finalized as an additional shared services center for the region.
Steve Rendle, chief executive officer of VF, said, “The announcement reinforces the company’s commitment to invest in our business across the Asia Pacific region, while also supporting VF’s overall transformation plan to become a more consumer-minded, retail-centric, and hyper-digital enterprise. We established our presence in Asia 25 years ago and have continually shaped our business around the region’s many evolving opportunities.
Now, we’re further transforming our Asia operations so we can better serve this fast-moving, technology-driven market with increased speed and capabilities. In recent years, we’ve made great strides to advance our brand strategy in Asia with new capabilities in digital and analytics, stronger relationships with the region’s digital titans, and the appointment of new VF leaders in both Tokyo and Shanghai. As we build on this strong foundation, we also see significant opportunities in creating a hyper-digital supply chain with a key hub in Singapore that will enable us to unlock more incredible speed and agility in how we make, source, and move our products around the world.”
Kuala Lumpur office will further expand the back-end business functions’ footprint that supports its brands and supply chain operations. Going to Shanghai, VF aims to forge more substantial and more relevant relationships with Chinese consumers.
The supply hub to Singapore will enable greater integration across VF’s global supply chain network, including key hubs in Europe and the Americas.
