If the investor gets its way, brands from Supreme to Timberland could be reviewed for potential sale.
Shares of VF shot up 13.2 percent to $18.33 on Tuesday on word that activist investor Engaged Capital was pushing the company to conduct a strategic review of all the brands in its portfolio except
If Engaged gets its way, a series of high-profile names across street, active and workwear would be considered for saleAlready the company has been working to sell its backpack business — which includes the Kipling, Eastpak and JanSport brands — as it seeks to turn around its business. Thus far, he’s been generally positive on the company’s positioning, noting this summer that VF has a “portfolio of globally powerful and iconic brands” with both purpose and talent.
Rendle made some dramatic moves as head of VF — spinning off the Wrangler and Lee jeans businesses into Kontoor Brands Inc., moving the company to Colorado and, in 2020, buyingacquisition brought a very fashion-forward brand to the company’s skate and street offering, but the business was blunted by pandemic-era supply chain backups — an area that was supposed to be a strength of VF’s.
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