American Fashion Group VF to Relocate from Hong Kong to Shanghai and Singapore
American fashion group VF announced on January 11 that it will be moving its brand operations centre and Asia product supply hub from Hong Kong to Shanghai and Singapore respectively. The parent company of brands including North Face, Timberland, and Supreme stated that its relocation to Shanghai can help establish a closer relationship with Chinese consumers.
In its press release, VF said the transformation will take place over the next 12 to 18 months with the first stage of the plan commencing this April. Steve Rendle, VF’s chairman and CEO, said the company has built on the many opportunities in Asia since it began its expansion in the region 25 years ago. “Now,” he continued, “we’re further transforming our Asia operations so we can better serve this fast-moving, technology-driven market with increased speed and capabilities.”
VF added that it is seeking to establish closer relations with its Chinese consumers by moving its brand operations centre from Hong Kong to Shanghai. The relocation of its Asian product supply hub, on the other hand, is an effort to consolidate its global supply chain network, of which European and American hubs are key parts. Workforces and other resources will also be allocated to primary sourcing countries in the region to strengthen cooperation with suppliers and boost efficiency.
Source: Stand News #Jan12
#HK #Shanghai #Singapore #VFGroup #Supreme #NorthFace #Timberland #Economy
https://bit.ly/2Px6pGB
American fashion group VF announced on January 11 that it will be moving its brand operations centre and Asia product supply hub from Hong Kong to Shanghai and Singapore respectively. The parent company of brands including North Face, Timberland, and Supreme stated that its relocation to Shanghai can help establish a closer relationship with Chinese consumers.
In its press release, VF said the transformation will take place over the next 12 to 18 months with the first stage of the plan commencing this April. Steve Rendle, VF’s chairman and CEO, said the company has built on the many opportunities in Asia since it began its expansion in the region 25 years ago. “Now,” he continued, “we’re further transforming our Asia operations so we can better serve this fast-moving, technology-driven market with increased speed and capabilities.”
VF added that it is seeking to establish closer relations with its Chinese consumers by moving its brand operations centre from Hong Kong to Shanghai. The relocation of its Asian product supply hub, on the other hand, is an effort to consolidate its global supply chain network, of which European and American hubs are key parts. Workforces and other resources will also be allocated to primary sourcing countries in the region to strengthen cooperation with suppliers and boost efficiency.
Source: Stand News #Jan12
#HK #Shanghai #Singapore #VFGroup #Supreme #NorthFace #Timberland #Economy
https://bit.ly/2Px6pGB