Vans Outlines Strategy to Add $1B in Revenue by 2016Thursday, June 14, 2012
Cypress-based Vans Inc. said it hopes to grow its annual sales to $2.2 billion by 2016.
The action sports clothes, shoes and accessories company said it's aiming to add about $1 billion in annual revenue from markets beyond the West Coast, its longtime core. The company expects the
the Asia Pacific region to grow the fastest, followed by Europe, the Middle East and Africa region.
Another key to the goal is new stores, with 200 planned over the next four years. The company currently has 310 retail stores.
A new shoe line aimed at the “action sports enthusiast,” called LXVI, could also help the company reach its target.
LXVI boasts a lightweight, flexible design and is set to debut at the end of this month with five designs. The line will be sold at some Foot Lockers, specialty and Vans stores with a starting price of $70.
North Carolina-based VF Corp. purchased Vans in 2004 and has tripled Vans’ sales since then.