The company will relocate to Shanghai for its business transformation plan.
Lifestyle apparel brand VF Corporation is moving its center of brand operations out of Hong Kong and into Shanghai as part of its business transformation plan for Asia-Pacific.
According to VF’s chairman Steve Rendle, by placing its brands’ center of operations in Shanghai, the company aims to forge stronger and more relevant relationships with Chinese consumers.
As part of this transformation, the company is also moving its base of operations for its global supply chain out of Hong Kong and relocating it to Singapore. Meanwhile, an additional shared services center for the region will be established in Kuala Lumpur, Malaysia.
“We’ve made great strides in recent years to advance our brand strategy in Asia with new capabilities in digital and analytics, stronger relationships with the region’s digital titans, and the appointment of new VF leaders in both Tokyo and Shanghai. As we build on this strong foundation, we also see significant opportunities in creating a hyper-digital supply chain with a key hub in Singapore that will enable us to unlock greater speed and agility in how we make, source and move our products around the world,” Rendle said.
A transition plan will be activated to guide the relocations over the next 12 to 18 months with the first move expected in April.
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