Online direct-to-consumer sales boost VF’s Q1 footwear performance
25/07/2018
It gave no figure for individual brands’ revenues but said Timberland’s performance had improved by 2% across the globe during the three-month period, ending June 30, 2018, compared to the same quarter last year.
VF said Timberland’s direct-to-consumer online sales were up by more than 20%, but that it had, by contrast, experienced experienced a decline in sales through its more traditional network of bricks-and-mortar retail partners. Retail sales suffered in Asia in particular, contributing to an overall fall in revenues in that market of 11%.
The fall in Asia was in spite of growth of 23% in China and a 30% growth in online direct-to-consumer sales. It was a difficult quarter for Timberland in Japan because of what VF referred to as “strategic retail partner diversification”. There was also what it called “bricks-and-mortar softness” in Taiwan.
Timberland sales rose by 6% in the Americas and by 5% in Europe.
For Vans, revenues were up by 35% overall and online direct-to-consumer sales increased by more than 60%.
Vans grew by 36% in the Americas, 34% in Asia and 33% in Europe.
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