VF Corp. has apparel on the hook for more than a quarter of the $1 billion in growth it’s planning in the next five years for Vans, the “off the wall” skateboard footwear brand it acquired eight years ago.
At a presentation for analysts at its House of Vans store in Brooklyn, N.Y., Thursday afternoon, VF executives said Vans, which joined The North Face and the recently acquired Timberland among the billion-dollar brands in its dominant outdoor and action sports coalition last year, is budgeted to hit $2.2 billion in sales by the end of 2016 from $1.2 billion last year. That represents a compound annual growth rate, or CAGR, of 13 percent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"