As part of the publication of the results of the first quarter, VF Corp announced major changes for Vans. Previously, the shoe brand had recorded a decline in sales of 14 percent. Nevertheless, VF-CEO Bracken Darrell showed up in conversation with investor: optimistic inside. He explained: “We see some bright spots”.
The efforts to revive business have been running for a long time. VF has decided in the past two years to close around 140 Vans branches-this corresponds to 20 percent of the global network. According to Darrell, even though it affected sales, this decision contributed to improving profitability.
The company has also reoriented around 90 percent of its US full-price branches “to ensure greater gender clarity”. VF plans to continue to modernize the branches of Vans and renew it as part of a retail playbook, to introduce focused concepts. This is already the case in the VANS branches on the Fifth Avenue and in London, where the performance is reportedly higher than in other locations. In Europe, the Middle East and Africa (EMEA), the brand’s key city strategy, which aims to improve merchandising, achieves “promising first results”, says Darrell.
Luxury trend as a glimmer of hope
There are also changes in wholesale after skate-inspired silhouettes have aroused the interest of the luxury segment on the fashion weeks this year. Darrell said that this is reflected in a 50 percent increase in the appointment bookings at the Paris fashion week in June, with both new and recurring customers showing interest. “I do not say that vans will grow at nine percent a year from now on, but I am pleased that the trend in skate-style shoes in the luxury segment where trends start,” he added.
In order to use this developing market, vans has made changes to its supply chain and begins to accelerate the market launch time and increase the offer and variety of new products. In addition to the premium line, the “encouraging” reactions to the classic collection ‘The Authentic’ is also discussed. This contributes to VFS goal to improve the channel mix and to set up the brand for sustainable and profitable growth.
Vans is currently managed by brand president Sun Choe, who came to the company in early 2024 and was commissioned to implement the turnaround strategy. Darrell noticed: “The freedom of this team to be innovative is less limited every quarter by the practical aspects of the old product development process.”
Darrell said about the concerns about Vans’s performance: “We will return to a neutral level as soon as possible. There are some healthy growth. There are some out there who think that this will never happen.
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