VF Corporation Complete the sale of its work clothing business Premium Fashes Premium

VF Corporation culminates the sale of your work clothing business.The American group has sealed the sale of Red Kap brands, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small to a subsidiary of the Redwood Capital Investments Fund.

The operation, announced on April 28, does not include the Dickies and Timberland Pro brands.The terms of the agreement have not transcended.The objective of VF Corporation with this diversification is to focus on its direct sales brands to the final consumer.

This division is the least contributed in sales to the company.In the year closed in March 2019, the last one in which the group incorporated data from this business, the work clothing brands invoiced 1.862 million dollars, compared to 1.342 million dollars from the previous year.

VF billed 1.862 million dollars with their division of work clothes in 2019

VF closed the 2021 exercise (finished last March) with a dropping drop of 11.9%, up to 9.238.8 million dollars.The benefit, however, collapsed 40%, up to 407.9 million dollars.

The company was founded in 1899 in Pennsylvania, and has a wide brand portfolio, including The North Face, Vans, Timberland, Wrangler, Lee, Nautica, Majestic, Kipling and Supreme.

Redwood, meanwhile, is a long -term investment company based in Baltimore (United States).The company has a diversified portfolio that includes distribution and real estate, among other sectors.