VF Corporation Appoints Sun Choe as Global Brand President, Vans®

Rhea-AI Summary

VF (NYSE: VFC) has appointed Sun Choe as the Global Brand President of Vans, effective late July. Choe brings nearly 30 years of experience in the apparel industry, having previously worked with brands like lululemon, Marc Jacobs, and Levi's. At lululemon, Choe served as Chief Product Officer, overseeing significant revenue growth and expansion into new product lines. VF 's CEO Bracken Darrell expressed confidence in Choe's ability to drive Vans' growth and enhance shareholder value. Choe is enthusiastic about leveraging Vans' brand identity and customer loyalty to foster long-term consumer relationships.

Positive

• Appointment of a seasoned industry expert, Sun Choe, as Global Brand President of Vans.
• Choe's previous role at lululemon saw revenues quadruple and profitability strengthen.
• VF aims to ignite growth across its brands under Choe's leadership.
• Sun Choe's track record in expanding product lines and geographies is promising for Vans.

Negative

• No immediate financial impact or detailed strategic plan was disclosed.
• Potential risk if Choe's strategies do not align with Vans' existing brand culture.

DENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear, and accessories, today announced that Michelle (“Sun”) Choe has been appointed Global Brand President, Vans^®, beginning in late July.

Sun Choe. (Photo: Business Wire)

Sun is a highly accomplished apparel industry executive with nearly three decades of experience leading design and merchandising for renowned global brands, including lululemon, Marc Jacobs, West Elm, Madewell, Urban Outfitters, Levi’s and the Gap. She joins VF from lululemon, where she served as Chief Product Officer for the past seven years, overseeing women's, men's, accessories design, merchandising, innovation, product development, and planning and allocation. Sun is recognized for helping to transform lululemon into a product-led organization, and during her tenure, lululemon quadrupled revenues and strengthened profitability while expanding into new product lines and geographies.

“Sun is a strong leader who is focused on consumer insight and has a proven track record of driving brand heat, and translating it into financial results. I am confident that Sun is the right leader to take Vans^® to new heights,” said Bracken Darrell, President and Chief Executive Officer, VF. “With Sun’s appointment, we are further transforming the VF leadership team to ignite growth across our brands and enhance value for our shareholders and other stakeholders.”

“Vans^® is an incredible brand with a storied history and devoted customer base,” said Sun. “I am passionate about building high-performance cultures and teams and creating great designs and guest experiences that build long-lasting, meaningful connections with consumers around the world. At Vans^®, we will do just that – capitalizing on the brand’s identity as a lifestyle defined by creativity and authenticity. I can’t wait to get to work.”

About Sun Choe

Sun served as Chief Product Officer and a member of the leadership team of lululemon from 2018 to 2024. Sun joined lululemon in 2016 as Senior Vice President, Global Merchandising. Prior to lululemon, Sun served as Chief Global Product Merchant at Marc Jacobs from 2015 to 2016. From 2013 to 2015, she was Senior Vice President, Merchandising at West Elm. From 2011 to 2013, Sun was Senior Vice President at Madewell. Before Madewell, she held leadership roles of increasing responsibility at Urban Outfitters, including Executive Director of Women’s Apparel and Accessories. Earlier in her career, Sun served in merchandising leadership roles at Guess?, Levi Strauss and Gap Inc. She earned a bachelor’s degree from the University of Maryland.

About VF Corporation

Founded in 1899, VF Corporation is one of the world’s largest active-lifestyle companies which connects people to the activities and experiences they cherish most through a portfolio of outdoor, active, workwear and streetwear brands including Vans^®, The North Face^®, Timberland^® and Dickies^®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.

Forward-Looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” "believe," “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto are forward-looking statements. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel and footwear; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute our Reinvent transformation program and other business priorities, including measures to streamline and right-size our cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in our business model; any inability of VF or third parties on which we rely, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which we rely, are frequent targets of cyber-attacks, and may in the future be vulnerable to such attacks, and any inability or failure by us or such third parties to anticipate or detect data or information security breaches or other cyber-attacks, including the cyber incident that was reported by VF in December 2023, could result in data or financial loss, reputational harm, business disruption, damage to our relationships with customers, consumers, employees and third parties on which we rely, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which we rely to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and operations and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment such as the impairment charges related to the Timberland®, Dickies® and Icebreaker® reporting unit goodwill; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and divestitures, integrate acquisitions and manage its brand portfolio; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Ukraine and the Middle East and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis, including the coronavirus (COVID-19) global pandemic; and tax risks associated with the spin-off of our Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed with the SEC, including VF’s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240530265206/en/

Investor Contact:

Allegra Perry

ir@vfc.com

Media Contact:

Colin Wheeler

Corporate_Communications@vfc.com

Source: VF Corporation

FAQ

Who has been appointed the Global Brand President of Vans?

VF has appointed Sun Choe as the Global Brand President of Vans.

When will Sun Choe start her role as Global Brand President of Vans?

Sun Choe will begin her role as Global Brand President of Vans in late July.

What experience does Sun Choe bring to Vans?

Sun Choe has nearly 30 years of experience in the apparel industry, having worked with brands like lululemon, Marc Jacobs, and Levi's.

What was Sun Choe's previous role before joining Vans?

Sun Choe was the Chief Product Officer at lululemon, overseeing design, merchandising, innovation, and product development.

What impact did Sun Choe have at lululemon?

During her tenure at lululemon, Choe helped quadruple revenues and expand into new product lines and geographies.