Founded in 1899, V.F. Corporation is a leading global brand of lifestyle apparel, footwear and related products, highly diversified across brands, products, distribution channels and geographies. VF has a broad portfolio of brands including jeans, outerwear, footwear, backpacks, luggage, sportswear, professional and performance apparel categories. These products are sold to consumers who shop in specialty stores, upscale and traditional department stores, national chain stores and large merchants. A growing portion of VF's direct-to-consumer business revenue (currently 21%) comes from sales to consumers through VF-operated stores and e-commerce sites, with revenue from outside the United States, mainly from Europe, Asia, Canada, Mexico and Latin America. VF brand products are also sold in many countries through licensors, distributors and independently operated partner stores. In order to provide diversified products in different geographical areas through multiple distribution channels, it balances efficient and flexible own manufacturing with finished product procurement by independent contractors. VF Corporation utilizes state-of-the-art technology for inventory replenishment, enabling them to effectively obtain the correct product classification to meet consumer demand for customer shelves. For management and internal financial reporting purposes, VF's business is organized primarily by product category and brands within those categories. These business combinations are called "alliances" and consist of the following components: outdoor sports, denim clothing, image clothing, sportswear and contemporary brands. These alliances are a reportable part of financial reporting. Alliance management is responsible for building and operating their brands, with some financial, administrative and system support and discipline provided by a central functional department within VF.
