VF Corp. to Move HQ to Colorado, Spins Off Jeans

VF Corporation, one of the world’s largest apparel, footwear and accessories companies, is moving its global headquarters to Denver. About 85 VF leaders, including members of the company’s U.S.-based senior leadership team, will move to Colorado beginning in Spring 2019. During the course of the next two years, several of VF’s outdoor brands, including The North Face, JanSport, Smartwool, Eagle Creek and Altra also will relocate to join VF.

In total, approximately 800 employees across VF and its brands are expected to move into the new metro Denver area headquarters beginning in mid-2019, including about 70 from the Smartwool brand, which already calls Colorado home and is currently headquartered in Steamboat Springs.

“We are thrilled to welcome a new partner that embodies the values that define Colorado,” said Colorado Governor John Hickenlooper. “VF’s move underscores the critical driver that the outdoor recreation industry plays in our economy where business meets lifestyle.”

“Colorado is an area with an unrivalled heritage and culture of outdoor and activity-based lifestyles, as well as a thriving business environment,” said Steve Rendle, VF’s Chairman, President and CEO. “It is a great strategic fit for our business, and we are excited to be relocating our headquarters and several brands to the metro Denver area next year. We believe that the creation of our new headquarters in the area will help us to unlock collaboration across our outdoor brands, attract and retain talent, and accelerate innovation.”

Rendle added, “We are grateful to Colorado for the job growth tax credits that represent a long-term commitment to our company and we want to make a long-term commitment to the people of Colorado. For every dollar of job growth tax credit that we receive and use, we will match that dollar in a donation to the VF Foundation and designate those funds to support the charitable interests of the citizens of Colorado.”

VF has nearly 70,000 employees worldwide and operations across more than 170 countries.
Also, this week VF announced it will spin off Lee and Wrangler jeans into a separate public company. Denims were responsible for more than half of VF’s overall profit in 2000, but have since been outpaced by Vans, which has driven much of VF’s recent growth, as well as it’s active sports businesses. VF’s activity-based outdoor products business saw profit jump 15 percent in the year that ended in March, while earnings from jeans slipped nearly 13 percent in the same period, as big outlets including Walmart turned to their own denim brands.

The spin-off, expected to be completed in the first half of 2019, will also give VF more flexibility to pursue acquisitions and explore new business areas.