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Vans Inc. surpassed the $2 billion-mark in sales last year for the first time, according to its parent, VF Corp. in Greensboro, N.C.
VF didn’t provide specifics for Vans' 2014 revenue, but said the Cypress-based skate shoe and apparel company's fourth-quarter revenue was up 17%, marking its 25th consecutive quarter of double-digit growth. Its annual revenue also was up 17%, according to the parent company.
Vans’ five-year growth plan, announced in 2012, called for $2.2 billion in revenue by 2016. The brand was at $1.2 billion at the time.
VF reported companywide fourth-quarter revenue up 9% to $3.6 billion. Its net profit was $122 million, down from $367 million a year earlier. Its revenue for all of 2014 was up 8% to a record $12.3 billion. Its annual net income was $1.04 billion, down 13% from 2013.
VF has a market value of about $32.4 billion. Its portfolio of outdoor apparel brands includes Vans, The North Face, Timberland, Kipling, Jansport, Reef, and Eastpak, among others. It offers denim under the Wrangler, Lee, Riders and Rock & Republic names. Its premium lifestyle apparel labels include 7 For All Mankind, Splendid and Ella Moss.