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VF begins roll-out of new transformation strategy Reinvent

02/11/2023

After revenues declined by 2% year on year during the second quarter, including a 21% drop at Vans, US apparel and footwear group VF has announced new strategic transformation programme Reinvent.

 Priorities include forming a global commercial structure under Martino Scabbia Guerrini, drawing upon operational successes in Asia-Pacific and EMEA (Europe, the Middle East and Africa) to set up an Americas regional platform; recruiting a new Vans brand president in place of Kevin Bailey, who will lead on Reinvent’s delivery; large-scale fixed cost reductions to the tune of $300 million; and deleveraging its balance sheet.

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