Vans outlines ambitious five-year plan
Action sports footwear and apparel company Vans has unveiled its strategy to add $1 billion in revenues over the next five years.
At an investor meeting held at the House of Vans in Brooklyn, New York, the brand announced that it expects revenues to reach $2.2 billion by the end of 2016, representing an annual growth rate of 13%.
"Having more than tripled its revenues since being acquired in 2004, Vans is an amazing example of the power of VF’s business model that enables brands to grow profitably and globally while protecting their unique cultures,” said Eric Wiseman, VF corporation chairman and chief executive officer.
"Our investments to grow Vans across a variety of platforms – product innovation, geographic expansion and direct-to-consumer – have provided us with a very strong foundation to support its next chapter of growth."
