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Tag: JanSport

  • Kipling opens Two New Stores in Singapore

    Kipling opens Two New Stores in Singapore

    Kipling Singapore is opening two concept stores this month – one at the new Jewel Changi shopping centre, the other at Ion Orchard. The openings come as the Belgian accessories brand refreshes its logo and shifts direction towards what it describes as “closer to its origins, one that is cool, gender inclusive, and authentic to Kipling’s roots”. In a statement, Kipling Singapore says refreshed bag designs will appeal to a larger target group – “millennials of both genders”.

    Both new stores feature product zones with an ‘icon wall’ showing off Kipling’s most popular products and the Jewel Changi store includes a space displaying bags for travellers.

    The Ion Orchard store features a ‘Make It Personal’ corner, where shoppers can customise their bags by adding charms, straps, key rings and stencils.

    The Jewel Changi Kipling store opened last week, while the one at Ion Orchard will open on Friday (April 26).

    Paying tribute to Kipling’s history, monkey elements will feature in all new stores globally, including a monkey mural painted in collaboration with local artists from each city.

    “The monkey murals capture and tell their stories as a bridge between the city and customers,” said a Kipling Singapore spokesperson.

    In Singapore, the brand collaborated with local artist and illustrator Tiffany Lovage for its mural at Jewel Changi Airport, and with popular local Singaporean art collective Tell Your Children at Ion Orchard.

    Headquartered in Antwerp, Kipling is owned by US-listed VF Corporation, whose other brands include Eastpak, Jansport, Napapijri, Reef, Vans, The North Face, Lee, Wrangler, 7 For All Mankind and Timberland.

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  • Vans, The North Face boost parents sales

    Vans, The North Face boost parents sales

    VF Brands has posted strong third-quarter results, with balanced growth across its entire portfolio. The US-listed apparel company, which owns and operates Vans, The North Face, Timberland, Wrangler and Lee, among others, says sales grew 8 per cent in the third quarter, to US$3.9 billion. Its share price soared 12.39 per cent after the announcement on Friday (US time) to $82.47.

    Vans sales soared 25 per cent and The North Face’s, by 14 per cent.

    “VF’s third-quarter results were fuelled by strong growth in our largest brands and balanced growth across the core dimensions of our portfolio,” said VF Brands president, chairman and CEO Steve Rendle.

    Revenue from VF’s ‘active’ segment, which includes brands such as Vans and JanSport, increased 16 per cent, while revenue from its ‘outdoor’ segment, which includes brands such as The North Face and Timberland, increased 11 per cent.

    VF reported $592 million in operating income, 22 per cent up on the prior year. Net income for the period was $463 million, a 613 per cent increase over the $90 million loss posted in the same period last year.

    “Based on the strength of our third-quarter performance and the growth trajectory we see for the remainder of fiscal 2019, we are again increasing our full year outlook,” Rendle said.

    The business expects revenue from its ‘work’ segment, which includes brands such as Dickies, is expected to increase 39 per cent, while revenue from its ‘active’ segment is expected to increase 16 per cent and revenue from its ‘outdoor’ segment is expected to grow 8 per cent.

    VF expects revenue from its ‘jeans’ segment, which includes brands such as Wrangler and Lee, to decline 3 per cent, while direct-to-consumer revenue is expected to increase 13 per cent, and digital revenue is set to increase by more than 30 per cent.

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  • VF next plan for Wrangler and Lee business

    VF next plan for Wrangler and Lee business

    Fast-growing apparel brand owner VF Corporation plans to spin off its Wrangler and Lee denim business into a second listed company.

    Dubbed NewCo for now, it would be a global leader in the denim category as well as incorporating the VF Outlet operations. Those businesses contributed US$2.5 billion to VF’s turnover last year.

    VF chairman, president and CEO Steve Rendle said since last year the company has been engaged in a disciplined reshaping of its brand portfolio to better position the company for long-term success in a quickly changing business landscape. In that time, VF has acquired Williamson-Dickie, and the Icebreaker and Altra brands, and sold Nautica and its Licensed Sports Group, including the Majestic brand. That has sharpened the company’s focus on activity-based outdoor, active and work lifestyles. Its brands now include North Face, JanSport, Smartwool and Eagle Creek,

    “The decision to separate these businesses will allow VF to sharpen its focus as a consumer-centric and retail-minded organisation anchored in activity-based lifestyle brands,” said Rendle.

    The Wrangler and Lee jeans business is both successful and sustainable with iconic global brands and a clear path to value creation as a standalone entity, he said.

    “This exciting step forward will mean that both VF and NewCo have the resources, management focus and financial flexibility to thrive in a dynamic consumer marketplace, creating an even brighter future for both organisations and all of their stakeholders.”

    With annual sales estimated at more than $11 billion, the trimmed-down VF business will have more flexibility to pursue its merger and acquisition strategy, explore new growth vectors and apply even more investment behind its organic brand portfolio, he said in a statement.

    Post split, VF would move its headquarters to metro Denver, a location it believes is more in keeping with its outdoor wear focus and an ideal home for its Global Innovation Center for technical fabrics and Digital Lab.

    “Locating these brands, along with select VF leaders, at the base of the Rocky Mountains will enable us to accelerate innovation, unlock collaboration across brands and functions, attract and retain talent and connect with consumers,” said Rendle, who will remain in his current role.

    NewCo’s Asian focus

    Meanwhile, the new Wrangler and Lee denim business will be free to pursue further expansion of its global footprint, with a sharp focus on Asia, building on its established presence in China. The company expects to unlock significant scale and cost efficiencies by streamlining operations, providing flexibility to pursue strategic acquisitions over time.

    Scott Baxter has been designated CEO of the new company and  Rustin Welton as CFO.

    NewCo will be headquartered in Greensboro, North Carolina where Lee will relocate its headquarters from Kansas City, joining Wrangler.

    The separation is anticipated to be complete in the first half of next year, following customary regulatory approvals and tax and legal considerations.

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