In a series of organizational moves, VF Corp. re-aligned its international team and strategy to accelerate growth abroad, particularly in Europe, the Middle East, Africa, and Asia. The company also started a joint venture with its former Indian distributor, Arvind Mills, Ltd. to design, market, and distribute VF branded products in India. The joint venture, called VF Arvind Brands Private Ltd., will initially encompass VF's Lee, Wrangler, Nautica, JanSport, and Kipling brands. VF will own 60% of the joint venture, and Arvind Mills, Ltd. will own 40%.
VF's wholesale business in India is approximately $40 million annually and is expected to grow more than 25% per year, excluding the addition of other VF brands. Darshan Mehta has been named CEO of VF Arvind Brands Private Limited, reporting to Eric Wiseman, chairman of the joint venture and president and COO of VF Corporation. The branded apparel market in India is approximately $4.4 billion.
Over the past five years, VF's international business has grown from 19% of total revenue to 25%, or $1.6 billion and the company now expects that international revenues could account for 30% of total revenues in three to five years. Karl Heinz Salzburger was appointed to a new position, leading VF's international team as President of Europe, Middle East, Africa, and Asia. He will continue to report to Wiseman.
Reporting to Salzburger will be Aidan O'Meara, president of VF jeanswear-international coalition; Topher Gaylord, president of outdoor international; Martin Berendsen, president of action sports international; Martino Scabbia Guerrini, president of sportswear international; and Corrado Conti VP of business development.
In addition, several others will be supporting this team. Scott Roe has been named VP and CFO of Europe, Middle East, Africa, and Asia. Roe previously served as CFO for VF Intimates. Tom Glaser is currently president of supply chain Europe/Asia. Glaser was appointed to his current position in March. Monica Zocca is head of legal affairs, outdoor international.
