VF Corporation has added another brand to its growing outdoor coalition, announcing a deal last week to acquire Green Sport Monte Bianco of Aosta, Italy. The company was acquired for an undisclosed amount, but was funded through cash reserves.
Green Sport does a majority of its business through the Napapijri brand, which is the Finnish word for the Arctic Circle. Overall, Napapijri is sold through about 1,000 doors and posted an 18% increase in sales in 2003 to $76 million.
Sales of Napapijri brand products are evenly distributed among sporting goods, department, and urban lifestyle stores. The company has both wholesale and retail operations, with three owned-retail stores located in Paris, Milan and Chamonix. An additional 14 stores are operated in partnership with retailers in Europe and Japan. VF plans to bring the brand to the U.S. under the leadership of Mike Egeck, president of The North Face.
Eric Wiseman, VP and chairman of VF's Sportswear and Outdoor Coalitions, sees using the “great design talent” behind the behind the Napapijri brand to strengthen VFs sportswear platform in Europe, aiding growth for The North Face, and assisting in the European launch of Nautica. He sees double-digit growth for Napapijri.
Editors Note — For more details on this story and other stories covering the Bicycle, Outdoor, and Snow Sports market, look for todays issue of The B.O.S.S. Report.
