VF Corp., which rose to prominence on the strength of its Lee and Wrangler jeans, wants to pivot away from denim to focus on the faster-growing trends such as athleisure and outdoor apparel.
The spinoff to shareholders, which will allow VF to retain trendier brands like North Face, Timberland, and Vans, should be completed in next year’s first half, the company said in a statement Aug. 13 The jeans business, which has yet to be named, will remain as a public company based in Greensboro, North Carolina, while VF will move its headquarters to the Denver area—a mecca for outdoor sports enthusiasts.
