DENVER - VF Corporation (NYSE: NYSE:VFC), a prominent player in the lifestyle apparel and accessories sector, announced the appointment of Michelle (Sun) Choe as the Global Brand President of Vans®, set to begin her role in late July. Choe brings a wealth of experience from her nearly 30 years in the apparel industry, having held leadership positions at several notable brands including lululemon (NASDAQ:LULU), Marc Jacobs, and Gap.
Choe's tenure as Chief Product Officer at lululemon saw the company quadruple its revenue and expand its market presence. Her experience is expected to be pivotal in driving growth for Vans®, a brand celebrated for its connection to creative and authentic lifestyles.
Bracken Darrell, President and CEO of VF, expressed confidence in Choe's ability to elevate the Vans® brand, citing her track record of fostering brand popularity and converting it into tangible financial success. Choe herself is eager to begin her new role, emphasizing her commitment to building high-performance teams and enhancing consumer connections worldwide.
VF Corporation, founded in 1899, owns a portfolio of brands including Vans®, The North Face®, Timberland®, and Dickies®. The company strives to support sustainable and active lifestyles while aiming to create value for stakeholders and use its influence for positive global impact.
This leadership change comes as VF Corporation continues to adapt to the evolving retail landscape, ensuring its brands remain competitive and relevant in the face of shifting consumer demands and market challenges.
The information reported is based on a press release statement.
InvestingPro Insights
In light of the recent executive appointment at VF Corporation (NYSE: VFC), investors may be curious about the company's financial health and future outlook. According to InvestingPro data, VF Corporation currently holds a market capitalization of $4.79 billion. Despite a challenging retail environment, VFC has maintained a remarkable track record of dividend payments, rewarding shareholders for 54 consecutive years, which aligns with the company's commitment to creating value for stakeholders.
InvestingPro Tips indicate that VFC's net income is expected to grow this year, which may reflect positively on the company's ability to navigate through market uncertainties and leverage new leadership to drive growth. However, it's worth noting that 13 analysts have revised their earnings expectations downwards for the upcoming period, suggesting that investors should keep an eye on forthcoming financial statements for any signs of underperformance.
With a recent price drop of over 25% in the last three months, the company's valuation implies a strong free cash flow yield, potentially presenting an attractive entry point for investors who have confidence in the company's long-term strategy and the new leadership's ability to execute it.
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