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VF Completes Acquisition of Seven for All Mankind Premium Denim-Lifestyle Brand

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-02
GREENSBORO, N.C.--(BUSINESS WIRE)--VF Corporation (NYSE: - ), a global leader in branded lifestyleapparel, today announced that it has completed its previouslyannounced acquisition of Seven For All Mankind, LLC. The 7 For AllMankind® brand, along with VF's recently completed acquisition ofthe lucy® women's active lifestyle brand, will together form thefoundation of a new coalition, VF Contemporary Brands. Mike Egeck, inaddition to his current role as CEO of Seven For All Mankind, willserve as President of VF Contemporary Brands, reporting to EricWiseman, President and Chief Operating Officer of VF Corporation.

The 7 For All Mankind® brand, the nation's leading premiumdenim-lifestyle brand, is sold in luxury retail stores and high-endspecialty boutiques and online at . With currentannual revenues of approximately $300 million, the brand has enjoyedrapid growth since it was launched in 2000. The business will remainbased in Los Angeles.

"7 For All Mankind® positions VF squarely as the leader in thepremium denim-lifestyle business in the U.S. and a stronger playerinternationally. The strength of the brand offers tremendous potentialfor continued growth, both in new product categories and through theaddition of owned retail stores," said VF Corporation Chairman and CEOMackey J. McDonald. "The 7 For All Mankind® and lucy® brands forman excellent nucleus for our new Contemporary Brands coalition, whichwe view as a new growth platform for VF that we will build withadditional brands over time."

"This is an exciting time for the 7 For All Mankind® brand. Withaccess to VF's strong infrastructure of resources we will be able tosupercharge our growth initiatives. We are confident that Seven ForAll Mankind will evolve the category and continue to remain thebenchmark of excellence in the premium denim industry," said Egeck.

VF continues to expect that total revenues of its new ContemporaryBrands coalition will approximate $125 million in 2007, reflecting apartial year of sales from both Seven For All Mankind and lucy. Theeffect on earnings per share in 2007 is expected to be neutral.

About Seven For All Mankind, LLC

Seven For All Mankind launched the premium denim craze in theUnited States in the Fall of 2000. The Los Angeles based brand quicklyearned critical acclaim and an immediate following for its innovativeuse of fits, fabrics, and finishes in denim. The company continues togrow and evolve as a true denim lifestyle brand, expanding its productline to include sportswear, handbag and footwear collections, andkids. The 7 For All Mankind® brand is currently sold at luxuryretail stores such as Barneys New York, Neiman Marcus, and Saks FifthAvenue as well as high end specialty boutiques in over 80 countriesthroughout the world. For more information about Seven For AllMankind, please visit www.7forallmankind.com

About VF

VF Corporation is a leader in branded lifestyle apparel includingjeanswear, outdoor products, image apparel and sportswear. Itsprincipal brands include Wrangler®, Lee®, Riders®, The NorthFace®, Vans®, Reef®, Napapijri®, Kipling®, Nautica®, 7 ForAll Mankind®, John Varvatos®, JanSport®, lucy®, Eastpak®,Eagle Creek®, Lee Sport®, Majestic® and Red Kap®.

VF Corporation's press releases, annual report and otherinformation can be accessed through the Company's home page,.

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