#Textiles & Apparel / Garment

2021-05-27

VF Corporation launches new innovation pillar to support its brand portfolio strategy, called venture platforms

VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced its launch of Venture Platforms, an innovation pillar that will focus on identifying and investing in new, future-focused opportunities.

Venture Platforms will enable VF to develop new growth opportunities for its brands and invest in new ideas outside of its current portfolio.

Venture Platforms is the newest component to VF’s overall brand portfolio strategy and complements the company’s two existing brand portfolio pillars: Core Brands, which are VF’s large, global brands, including Vans®, The North Face® and Timberland®; and Emerging Brands, which comprise the remaining 10 brands in the company’s portfolio.

“To ensure VF’s sustained growth over time, it’s imperative that we gain greater and earlier visibility into disruptive business models and capabilities within our industry so that we can incubate and invest in new, leading-edge, consumer-led ideas,” said Steve Rendle, VF’s Chairman, President and CEO. “Venture Platforms will help us do this by serving as a complementary pillar to the existing growth and innovation strategies that already sit inside our company and brand portfolio.”

Venture Platforms has two, reinforcing arms:

VF Venture Foundry: VF established this internal business model incubator to focus on new or evolving business models, platforms, experiences, and services within VF’s existing brand portfolio, as well as to address disruptive opportunities outside of its current operations.

BaseLayer Ventures: VF has provided the anchor investment into this new venture capital fund, which tightly aligns with VF Venture Foundry and will provide critical seed and A stage capital to concepts that originate inside VF, as well as external start-ups.

Venture Platforms is led by a small team of existing VF associates who work in close coordination with VF’s brands and Entrepreneurs in Residence. It is supported by a venture advisory board that includes representatives from VF brands and functions in addition to select external venture experts.

To learn more about VF Venture Foundry and VF Venture Foundry’s Entrepreneur-in-Residence opportunities, visit venturefoundryvfc.com. To learn more about BaseLayer Ventures, visit https://baselayer.vc/.