VF Corp CEO: It’s Time to Make a Change
VF Corporation (VFC) is cleaning out the closet and on a shopping spree for a new wardrobe.
Since Steve Rendle was tapped as CEO of the giant apparel and footwear company a year ago, he has sold several brands, including Nautica, the clothing line known for its bright colors. He recently bought Williamson-Dickie, well-known for its work-related brand called “Dickies” and Icebreaker, a New Zealand-based outdoor apparel company.
“Consumers are moving quickly,” Rendle tells Fortune. “For us to compete and stay in lock step with our consumer, we need to change.”
And change, or what Rendle calls “transformation” is the new watchword at the Greensboro, North Carolina company which is famous for its Lee and Wrangler jeans, Timberland footwear, and North Face outdoor apparel. With revenues of more than $12 billion and business operations in over 170 countries, VF Corp is ranked high on the Fortune 500 list of America’s 500 largest corporations.
The company could become even bigger—and soon. When asked if he would be interested in making a mega-acquisition, Rendle was enthusiastic.
“We absolutely would,” he responded, adding that deal-making has been a long tradition at VF throughout its 119-year history. “It’s how we transform. It’s how VF has transformed.”
Watch the above video for more of our conversation with Rendle.