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 brand’s continued expansion in China. The brand will operate from sales offices in Shanghai, Beijing and Guangzhou.