VF Corporation explores alternatives for Licensed Sports business
VF Corporation announced on Friday that it is exploring strategic alternatives for its Licensed Sports Group (LSG) business, a division of VF’s Imagewear coalition.
The LSG business, which includes the Majestic brand, supplies apparel and fanware through licensed agreements with US and international professional sports leagues, colleges and universities, and lifestyle brands. The business has licenses with the MLB, NFL, NBA, NHL, and major colleges. Beyond sports, LSG is the largest licensee of Harley Davidson apparel.
VF’s Imagewear coalition generatd $1.1 billion in revenues in 2015, with LSG representing half of that (around $550 million). The review of strategic alternatives does not include the Image division of VF Imagewear, which produces workwear worn by millions of workers in the industrial, service and government sectors.
“As active portfolio managers, we constantly assess the composition of our company to ensure VF’s portfolio is aligned with our strategic objectives and positioned to maximize growth and return to our shareholders,” said Eric Wiseman, VF’s Chairman and CEO. “In this respect, we are exploring options for our LSG business to position the organization to continue its success and achieve its future potential.”
VF Corporation is a global leader in the design, manufacture, marketing and distribution of branded lifestyle apparel, footwear and accessories. The company has a portfolio of 30 brands, including The North Face, Vans, Timberland, Wrangler, Lee and Nautica.
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