Venture Platforms will enable VF to develop new growth opportunities for its brands and invest in new ideas outside of its current portfolio.
DENVER – May 26, 2021 – VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced its launch of Venture Platforms, an innovation pillar that will focus on identifying and investing in new, future-focused opportunities.
Venture Platforms is the newest component to VF’s overall brand portfolio strategy and complements the company’s two existing brand portfolio pillars: Core Brands, which are VF’s large, global brands, including Vans®, The North Face® and Timberland®; and Emerging Brands, which comprise the remaining 10 brands in the company’s portfolio.
“To ensure VF’s sustained growth over time, it’s imperative that we gain greater and earlier visibility into disruptive business models and capabilities within our industry so that we can incubate and invest in new, leading-edge, consumer-led ideas,” said Steve Rendle, VF’s Chairman, President and CEO. “Venture Platforms will help us do this by serving as a complementary pillar to the existing growth and innovation strategies that already sit inside our company and brand portfolio.”
Venture Platforms has two, reinforcing arms:
VF Venture Foundry: VF established this internal business model incubator to focus on new or evolving business models, platforms, experiences, and services within VF’s existing brand portfolio, as well as to address disruptive opportunities outside of its current operations.
BaseLayer Ventures: VF has provided the anchor investment into this new venture capital fund, which tightly aligns with VF Venture Foundry and will provide