January 21, 2020 / 12:45 PM / a month ago

Vans owner VF Corp explores options for nine brands

(Reuters) - VF Corp (VFC.N) said on Tuesday it was starting a review for nine workwear brands that target businesses, including Red Kap and Bulwark, as the apparel maker looks to focus on its retail-oriented brands such as Vans.

The company said the brands under review represented about $865 million of its total fiscal 2019 revenue of $13.85 billion and about 50% of the workwear segment’s sales.

It also said divesting the brands, including VF Solutions that sells uniform to businesses and governmental organizations, would give it financial flexibility to plan future divestments.

It said it would, however, retain Dickies and Timberland Pro brands from the workwear segment.

VF, which spun off its jeanswear business as Kontoor Brands (KTB.N) last year, is set to report quarterly results before market opens on Thursday.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli

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