"Talented, smart, flexible, confident - all of these words describe the people of VF. Our performance-driven culture encourages our associates to bring their A-game to work each and every day. And we're proud that VF is a company where associates can build careers and reach their goals. At the end of the day, we know that our people are the source of our success." - Eric C. Wiseman, Chairman, President & CEO
With over 44,000 associates around the world, the VF family is quite diverse - in terms of geographies, cultures and lifestyles. And that's precisely the way we want it. At VF, we value the unique ideas, perspectives, talents and contributions each of our associates brings to the job.
In fact, many of our employees embody the lifestyles our brands represent: surfers work for Reef®, outdoor enthusiasts for The North Face®, fashion devotees for 7 For All Mankind®. Yet whatever the passions and interests of our associates, we strive to create a workplace environment that fosters creativity, collaboration and congeniality. It's right for our associates and it's right for our business.
At VF, our culture of mutual respect and integrity is one of the reasons why over 97% of our associates say they are proud to work for the company. Add to this competitive wages and benefits as well as a wide variety of exciting career paths in locations across the globe and it's clear to see why so many talented people have chosen VF.
If you have talent, energy and enthusiasm, and enjoy working hard in a collaborative environment, we encourage you to explore the links in this section and consider joining our winning team.
We will grow by building leading lifestyle brands that excite consumers around the world.
Ours is a perpetually driven culture, focused on constant innovation. Using deep research and insights, we combine the art and science of apparel to create products that excite consumers and brands that inspire loyalty.
We responsibly manage the industry's most efficient and complex supply chain, which spans multiple geographies, product categories and distribution channels.
Our goal is to continuously exceed the expectations of our consumers, customers, shareholders and business partners. We help our retail partners win with consistently solid execution and outstanding service. And we continually find ways to improve our performance and generate bottom line results.
Our people are the source of our success. VF associates share a deep commitment to diversity - in people and ideas. We conduct business with the highest levels of honesty and integrity and we foster a positive working environment based on creativity, collaboration, and congeniality.
These are the things that make us great. These are the things that make us VF.
Our Strategy
"Above all, it is our ability to consistently execute on well-defined goals and strategies that will enable us to continue to drive success in the years ahead." - Eric C. Wiseman, Chairman, President & CEO
Today, VF is the world's largest apparel company. And we believe we're just getting started. Based on the results we've achieved over the past several years, we're confident that our strategy for growth - our Growth Plan - will continue to succeed.
Launched in 2004, our Growth Plan began the process of transforming VF into a global lifestyle apparel company. The Plan identified six Growth Drivers crucial to our success. These Drivers ensure a balanced approach to growth across multiple fronts, from acquisitions to international expansion to increased direct-to-consumer businesses.
The Plan also called for significantly increasing the share of revenues of our lifestyle businesses — Outdoor and Action Sports, Sportswear and Contemporary Brands — up to 60% of total revenues. A robust acquisition program, combined with strong organic growth, has enabled us to show steady progress against this goal. At the same time, our heritage businesses — Jeanswear and Imagewear — will continue to be important revenue and profit centers.
In January 2008, we updated our Growth Plan to reflect our confidence in our future. We established a new long-term revenue growth target of 8-10% fueled by both organic growth and acquisitions, an earnings per share growth target of 10-11% and a dividend payout of 40% of earnings. We also communicated our goal of achieving an operating margin of 15%. International growth and expansion in our direct-to-consumer businesses are key drivers of our Growth Plan. We expect that by 2012 international revenues will comprise a third of total revenues, while our direct-to-consumer business will account for 22% of total revenues and we aim to hit $11 billion in total revenues.
Even though the global recesssion had made our business challenging, we will remain focused on the biggest drivers of profitable growth combined with expert execution.
Our structure is one of the keys to our success. We refer to our lifestyle and heritage businesses as "coalitions." Each of our brands is managed from within our coalitions: Outdoor and Action Sports, Jeanswear, Sportswear, Contemporary Brands and Imagewear. This structure enables us to leverage our size, scale and global expertise across each coalition, while ensuring that each brand is expertly managed by leaders who are deeply connected to their brands. And our open, collaborative culture enables us to share best practices across coalitions, benefiting the company as a whole.
Taken together, these elements - Growth Drivers, coalitions, and an increasing emphasis on our lifestyle businesses - will be the keys to our growth and success in the future.
We're extremely proud of each and every one of the over 44,000 associates who work for VF across the globe. Every individual on our team looked at their career options and decided that VF was the company that best fit their life. Not only do they enjoy great benefits like health and wellness plans, retirement plans, product discounts and tuition reimbursement but - just as important - they connect with our strong values and dynamic brand cultures.
Whether you prefer a laid-back casual workplace or a more urban, sophisticated atmosphere, VF offers a wide range of "brand environments" to work in - each reflecting the lifestyles of brands like Lee®, The North Face®, John Varvatos®, Reef® and Wrangler®. And while each of our businesses is different, all share a core respect for the individual and an appreciation of what each person can bring to the organization.
We care about our associates and how we fit their lives. And to help us better understand these relationships, we conducted a global survey in 2008 to find out what our associates were thinking and feeling about working at VF. Needless to say, we were quite pleased with the results, which include these highlights:
- 95% said they were proud to work for VF
- 89% said VF is a fun place to work
- 4 out of 5 VF associates across the world would "recommend VF as a good place to work," better than best-in-class benchmarks, and, according to Gallup research, the best indicator of the health and strength of a company's employment brand.
But don't just take our word for it. As the following quotes from the survey reveal, our associates are quite capable of articulating their thoughts and opinions for themselves. (Attributions are not provided because this was an anonymous survey.)
"During my time with VF, I have felt valued for my knowledge and abilities. VF encourages their associates to improve on a personal level as well as a professional level. I feel that VF truly believes its greatest asset is their employees."
"Very open, supportive and a goal-driven company. Fun bunch of people. People are friendly, hardworking and treat each other well."
"I feel fortunate to be with such a great corporation. To be honest, I couldn't imagine working for another corporation. VF is truly the Gold Standard of corporations in my opinion."
Diversity at VF is both a business imperative and
the right thing to do.
"Diversity at VF begins with a sincere respect for the individual and for individual differences - among our associates, our consumers and our business partners. As a business, our number one goal is to fit our consumers' lives, and we can only do that by truly understanding them - in all their diversity. We see our associates' differences as a powerful resource and a key component of our continued growth, and our Diversity Vision Statement clearly articulates our belief in the benefits of diversity." - Eric C. Wiseman, Chairman, President & CEO
VF Diversity Vision Statement
VF is committed to creating an inclusive environment that welcomes and values the differences among all of our associates, customers, suppliers and the communities in which we live and conduct business. The continued success and growth of VF is enhanced through initiatives that promote diversity throughout VF around the world.
As a leader in global lifestyle brands, we know that our people are crucial to our ongoing success. To attract and retain the best in the business, we offer VF associates a Total Rewards Program, including a comprehensive competitive benefits package. Our diverse benefit offerings meet a variety of the needs of our associates and are tailored to reflect the unique cultures of our brands and the lifestyles of our associates around the world.
Benefits Eligibility
Full-time associates (those scheduled to work 30 or more hours per week) are eligible for benefits. Waiting periods may vary according to the specific benefit plan.
Coverage is also available for family members, including spouse, same sex domestic partner (medical, dental, and vision only), and children.
Medical Coverage
All full-time VF associates have the option of enrolling in medical plans from a menu of providers. Most associates are offered PPO plans through Blue Cross Blue Shield and/or United Healthcare.*
Dental Coverage
All full-time VF associates have the option of enrolling in a dental plan through VF, primarily Metlife Dental.*
Vision Coverage
All full-time VF associates have the option of enrolling in a vision plan through VF, primarily Spectera or VSP.
Life and Accidental Death/Dismemberment Coverage
Full-time VF associates are covered by basic life insurance. Accidental death and dismemberment coverage also is available.
Disability Coverage
Full-time VF associates are eligible for disability programs.*
Retirement Savings Plan - 401(k) and Other Plans
Most VF Associates are eligible to participate in a 401(k) plan.
Vacation/Holiday Pay
Vacation and holiday pay is available to most VF associates. Vacation and holiday schedules and requirements may vary by work location.
Other Benefits Available to VF Associates*
• Tuition assistance
• Matching grant program
• Employee assistance programs
• Flexible Spending Accounts (health care and dependent care)
• Scholarships for children of associates
• VF product discounts
• Credit unions
• Direct deposit and payroll deduction services
• Community service volunteer opportunities
• Wellness programs
• Training and development opportunities
