VF Corp’s Q1 Income Drops 25% Despite Rise In Action Sports Sales
Vans domestic revenues up 3%, The North Face up 14% globally.
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- April 29 2009 | 322 views
VF Corporation announced today that Jim Gerson will be taking the reins as President of Reef. Gerson has been with VF Corp since 1986, and most recently served as Vice President of RD&D Soft Goods at The North Face.
Here’s the press release:
Carlsbad, CA – May 26th, 2009 - Reef is pleased to announce the appointment of Jim Gerson, currently Vice President of Apparel at The North Face, as President of Reef-Americas. In his new role, Jim will be responsible for developing the product line and brand strategy for the Reef brand worldwide and for the profitability of Reef-Americas beginning June 1st, 2009.
Gerson joined VF in 1986 as part of the Jantzen business and held progressive sales and merchandising roles leading their swimwear division. In 2000, he became Vice President of Swimwear for VF’s Tommy Hilfiger Licensee business. Gerson joined the The North Face as Vice President, Research, Design and Development and Brand Management in April 2001.
As The North Face grew, Jim transitioned to Vice President RD&D Soft Goods in 2005, overseeing all of the apparel business.
“Jim has spearheaded The North Face’s dedication to product innovation and has been a key contributor to the tremendous success of The North Face throughout his tenure with the brand,” said Stephen Murray, President of VF Action Sports Americas. “His successful background in managing key accounts in sales and leading merchandising initiatives brings to Reef a wide range of knowledge and experience from all angles of the business. I am confident that his expertise will prove to be a great asset to Reef.”
Gerson adds, “Reef is a strong brand with a rich heritage and a history for creating outstanding products. I look forward to sharing my product and brand experience to help Reef reach its full potential.”
Gerson holds a Bachelor of Science degree from the University of Idaho, with a Marketing emphasis in Management. He will transition to his new position at Reef effective June 1.
Media Contact: Lindy_Williams@vfc.com / 760.431.2366
Vans domestic revenues up 3%, The North Face up 14% globally.
» Read Full StoryCarlsbad, CA - Reef is proud to introduce the newest addition to the Reef Redemption Product Series, the NWS sandal. The NWS is part of an ongoing effort to create more sustainable Reef product, without sacrificing any of our famous fit, quality or comfort. Our design and development team challenged themselves as well as our factories to create and manufacture this sandal while minimizing waste. Every detail from the EVA footbed to the way the sandal upper is stitched has been scrutinized for efficiency.
As the leader in sandal technology, Reef is committed to bringing more sustainable design and development into every product we make. The innovative sandal is a premiere example of that commitment. Here’s what makes this sandal remarkable:
· The upper pattern pieces fit together like a puzzle maximizing material thus creating less than 1% material waste, also allowing us to make 7 more pairs of sandals per yard of fabric.
· The minimal waste left behind in the making of these upper pieces is then incorporated into the sandal as the ‘toe-post overlay’.
· All of the stitching and logo thread is made from 100% recycled PET.
· The footbed is made from 51% post industrial, recycled EVA (the current standard is 31%) molded together in a manner that reduces waste by over 20%. We even made a space in the bottom of the midsole to glue the EVA scraps into once the straps are punched trough.
· The rubber outsoles are made from individual molds rather than blocker molds to minimize waste. The remaining rubber scraps are then recycled.
· Water based adhesives keeps the traditional toxic glue out of our product and creates a healthier working environment for our factory workers.
· Interact with the NWS Microsite:
Reef’s NWS sandal is available online at reef.com or at all good surf shops. Reef Redemption is a 3-tiered program that encompasses a product series, culture of giving and in-house efforts for a more sustainable tomorrow. 1% of sales from the NWS sandal along with all Reef Redemption products will benefit environmental and humanitarian organizations.
VF, though impacted by the recession in the third quarter and expecting it to last through 2009, had a good year in 2008. I’ll go over those numbers briefly, but there’s nothing all that intriguing or educational I feel the need to spend a bunch of time on. What’s more interesting is how VF describes its direct to consumer strategy.
» Read Full StoryAny speculation as to whom Reef would be adding to its team roster this season was put to rest today, as the brand has officially signed Mike Losness. Losness partnered with the brand on both footwear and apparel sponsorship.
Here’s the release:
Carlsbad, CA: Reef’s proud to announce the addition of Mike Losness to the Reef family, the newest member of Reef’s apparel & footwear program. The 28 year old, San Clemente local’s progressive surfing talent helps to expand the already elite surf team in place at Reef. Losness brings a lot not only to the Reef team but also the brand with his creative interests in art and music, two things that fall in line with Reef’s inherent exotic roots.
“Mike is a great addition to the Reef athlete program,” commented Reef Global Athlete Manager, Heath Nutty Walker. “Mike helps to diversify our Reef team with his passion for free-surfing which has positioned him well within the editorial side of the print magazines. He is also a star in many of Taylor Steele’s videos with flawless sections of his progressive surfing waves all over the world. With his years of experience, it’s inevitable that Mike will help groom Reef’s younger athletes like, Tonino Benson and Nick Rozsa, into well rounded, professional surfers.”

Mike’s immediate plans with the Reef brand will be to continue his campaign on the 2009 WQS (currently ranked 36th), as well as travel the globe with his fellow team members in preparation for Reef’s next major movie debut, set to release Spring 2010. Reef also plans to have Mike work side by side with in-house apparel designers and provide his artistic influence across different product offerings.
For more on Mike Losness and the Reef team head to www.reef.com or check out Mike’s new ads in upcoming issues of Surfing, Surfer, and Transworld Surf magazines.
Transworld Business was on the scene at Surf Expo 2009, catching up with some industry heavyweights to talk about the the economy, new product and much more. Check out the video interviews right here.
» Read Full StoryVF Corporation (VFC) announced that it is restructuring its stable of brands. According to Eric Wiseman, VF’s Chairman and Chief Executive Officer, the company is creating an Action Sports Americas Coalition in order “to best capture future opportunities in these industries.” Vans President Stephen Murray has been promoted to President of the new coalition of brands, which—at this point—only includes Vans and Reef.
» Read Full StoryYesterday afternoon Reef reportedly let go of as many as 42 employees from its office in Carlsbad, California. VF Corp Director of Corporate Communications Paul Mason declined to comment, or confirm the exact number of employees that were let go. The news comes just a few weeks after VF Corp announced job cuts across all brands.
» Read Full StorySince Reef will be celebrating its 25th anniversary in 2009, Transworld Business conducted a series of interviews with the some of the people who have had the biggest impact on the brand over the years. The first of these features Dave Gatto, who played an integral role within the company from 2003–2006 before being promoted to President of VF Corp’s Outdoor Americas Coalition.
» Read Full StoryVF owns Vans, Reef, Nautica, Wrangler, Jans Sport, Eagle Creek, Lee, Majestic, Red Cap, Lucy, Rustler and other brands as well. They organize their business and report in six segments, which they call Coalitions; Jeanswear, Outdoor, Imagewear, Sportswear, Contemporary Brands, and Other. Read more about their latest quarter ended September 30.
» Read Full Story