VF To Move The Center Of Brand Operations From Hong Kong To Shanghai - Quick Facts

(RTTNews) - VF Corp. (VFC), a provider of branded lifestyle apparel, footwear and accessories, announced a transformation plan for its Asia Pacific operations, with relocations over the next 12 to 18 months with the first moves expected in April 2021.

VF plans to move the center of its brand operations from Hong Kong to Shanghai where the company currently employs approximately 900 office and retail associates.

In addition, VF also plans to relocate its Asia Product Supply Hub from Hong Kong to Singapore.

The company also plans to establish an additional shared services center for the region in Kuala Lumpur, Malaysia.

VF noted that Hong Kong will remain a key retail market for the company and its brands.

"Today's announcement reinforces our commitment to invest in our business across the Asia Pacific region, while also supporting VF's overall transformation plan to become a more consumer-minded, retail-centric and hyper-digital enterprise" said Steve Rendle, VF's Chairman, President and Chief Executive Officer.