VF Corporation has acquired The North Face branded business in China from its licensee, Korea-based Youngone Corporation. VF will now take over the business in China, where the company sees a potential for $40 million in revenues within five years.
In addition to its wholesale business, The North Face brand also has one freestanding retail store in Beijing.
Frank Cancelloni, general manager The North Face Asia/Pacific, will oversee the brands continued expansion in China. The brand will operate from sales offices in Shanghai, Beijing and Guangzhou.
