VF Corporation forms new team to drive international growth

VF Corporation (NYSE:VFC), a global leader in branded lifestyle apparel, today announced the formation of a new international leadership team as part of an ongoing growth initiative to enter new markets and accelerate revenue growth throughout Europe, the Middle East, Africa and Asia.
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Greensboro, N.C. – VF Corporation (NYSE:VFC), a global leader in branded lifestyle apparel, today announced the formation of a new international leadership team as part of an ongoing growth initiative to enter new markets and accelerate revenue growth throughout Europe, the Middle East, Africa and Asia.

“VF's transformation to a growing, global lifestyle brand company is well underway and working, and international expansion is a key component of this transformation,” said VF Corporation President and Chief Operating Officer Eric Wiseman.

“Over the past five years, VF's international business has grown from 19% of total revenue to 25%, or $1.6 billion. Given the expansion potential for our brands globally, we now expect that international revenues could account for 30% of total revenues in three to five years. Our new organization structure, combined with our portfolio of powerful brands, will enhance our focus and better align resources to achieve this growth.”

Wiseman announced that Karl Heinz Salzburger will lead VF's international team as President of Europe, Middle East, Africa (EMEA) and Asia, a new position. Since 2001, Salzburger, 49, has served as President of VF's Outdoor - International Coalition with responsibility for the international businesses of The North Face®, Vans®, Kipling®, JanSport®, Reef®, Napapijri®, Eastpak® and Nautica® brands. Prior to that, he served as President of The North Face and Chief Executive Officer of The North Face, Europe. Prior to joining VF in 1997, he was with Benetton Sportsystem S.p.A., where he served as President, Nordica Group and President, BSS Subsidiaries.

In this new role, Salzburger will have responsibility for VF's Outdoor and Jeanswear businesses in Europe, the Middle East, Africa and Asia. He will continue to report to Wiseman.

“Karl Heinz is an exceptional business leader who has more than 15 years of international apparel experience in growing global brands. He will work with a talented management team with considerable apparel and international business experience,” Wiseman said.

Reporting to Salzburger will be:

• Aidan O'Meara, 43, President, VF Jeanswear-International Coalition

• Topher Gaylord, 37, President, Outdoor International

• Martin Berendsen, 56, President, Action Sports International

• Martino Scabbia Guerrini, 42, President, Sportswear International

• Corrado Conti, 38, Vice President, Business Development

This group will be supported by a dedicated team of finance, supply chain and legal executives, including:

• Scott Roe, 41, who has been named Vice President and Chief Financial Officer, Europe, Middle East, Africa (EMEA) and Asia. Roe previously served as CFO for VF Intimates.

• Tom Glaser, 45, President, Supply Chain Europe/Asia. Glaser was appointed to his current position in March. He previously served as Managing Director of VF Asia Sourcing.

• Monica Zocca, 45, Head of Legal Affairs, Outdoor International. Zocca was appointed to her current position in June 2005.

Salzburger said VF will continue to extend its brands across Europe, Asia, the Middle East and Africa, with particular focus on growth markets such as India, China and Russia.

“These markets have growing middle classes with an accelerating demand for lifestyle brands. VF has some of the most highly desired brands in the world and a world-class supply chain that can deliver them to these consumers,” Salzburger said.

Cautionary Statement on Forward-looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements.

Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements in this release include VF's reliance on a small number of large customers; the financial strength of VF's customers; changing fashion trends and consumer demand; increasing pressure on margins; VF's ability to implement its growth strategy; VF's ability to effectively transition to a new distribution center supporting our domestic Outdoor businesses; VF's ability to maintain information technology systems; stability of VF's manufacturing facilities and foreign suppliers; continued use by VF's suppliers of ethical business practices; VF's ability to accurately forecast demand for products; continuity of members of VF's management; VF's ability to protect trademarks and other intellectual property rights; maintenance by VF's licensees of the value of VF's brands; the overall level of consumer spending; general economic conditions and other factors affecting consumer confidence; fluctuations in the price, availability and quality of raw materials; foreign currency fluctuations; and legal, regulatory, political and economic risks in international markets. More information on potential factors that could affect VF's financial results is included from time to time in VF's public reports filed with the Securities and Exchange Commission, including VF's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

About the Company
VF Corporation is a leader in branded apparel including jeanswear, outdoor products, intimate apparel, image apparel and sportswear. Its principal brands include Lee, Wrangler, Riders, Rustler, Vanity Fair, Vassarette, Bestform, Lily of France, Nautica, John Varvatos, JanSport, Eastpak, The North Face, Vans, Reef, Napapijri, Kipling, Lee Sport and Red Kap.

VF Corporation's press releases, annual report and other information can be accessed through the Company's home page, www.vfc.com.
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