VF MOVING CORPORATE HEADQUARTERS, WANTS TO BE CLOSER TO ITS OTHER UNITS
WYOMISSING, Pa. — VF Corp. said Thursday it is moving its corporate headquarters south, from Wyomissing to Greensboro, N.C., where several of its businesses are already based.
The move, to start in the first quarter of 1998, is expected to be completed by the end of June. VF has begun a search for a corporate location in Greensboro.
Greensboro is the headquarters for VF’s Jeanswear coalition, with its Wrangler and Rider jeans businesses among the units based there, as well as its Healthtex children’s wear unit. VF Technology Services, the firm’s computer network center, and VF Services, a newly formed division for transactions processing, also are based in Greensboro. In all, VF has 1,300 employees in Greensboro. Worldwide, VF, with sales last year of $5.1 billion, has 64,000 employees.
There are 100 employees at its corporate headquarters in Wyomissing, near Reading, Pa., and the company plans to transfer the majority of positions to Greensboro, according to Mackey J. McDonald, VF’s chief executive officer.
VF’s factory outlet stores, which employ 450 people in Wyomissing, will remain headquartered there.
Characterizing the move as “a competitive necessity,” McDonald in a statement said, “VF is undergoing enormous change, including the development of groundbreaking new systems and processes to support our ‘consumerization’ efforts, and much of that work is taking place in Greensboro.”
Putting VF corporate closer to its operating units, McDonald said, will allow the company to speed decision-making and share information more effectively. In addition to Greensboro, VF has several business based in the Southeast, including the Vanity Fair Intimates coalition in Atlanta, which relocated this year from New York.
VF and its predecessor companies have been based in Wyomissing for 98 years, since the business started.
“We will work with our people to insure a smooth transition,” McDonald said. “Our goal is to take care of everyone affected and provide the relocation and career assistance needed.”