- Prachi Singh |
VF Corporation has announced that it is commencing a review of strategic alternatives for the occupational portion of its Work segment.
“Driving and optimizing our portfolio continues to be a top strategic priority for VF, and exploring strategic alternatives for our occupational Work brands is the natural next step in that process,” said Steve Rendle, VF’s Chairman, President and CEO in a statement, adding, “Divesting these brands would leave VF with a simplified portfolio of higher-growth, consumer-focused brands, while providing financial flexibility to fuel further strategic initiatives and enhance shareholder value.”
The occupational portion of the Work segment consists of primarily nine brands and businesses including Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small. The company said, the review does not include Dickies and Timberland PRO brands.