Vans’ Kevin Bailey will step down from the role of global brand president this month and will begin to lead a new division under the retailer’s parent company, VF Corporation (NYSE: VFC).
Bailey rejoined the Costa Mesa-based shoe and apparel brand in 2022 to help revamp the Vans business after a time of struggling sales. VFC on Monday reported Vans’ revenue for the fiscal second quarter was down 21% to $749 million compared to a year ago.
Bailey will report directly to VFC’s newest Chief Executive Bracken Darrell as the head of Reinvent, VFC’s business improvement project.
The retail operator is searching for a new brand president and Darrell will “take a more active role” at Vans for the time being. The turnaround of Vans is said to be a large part of VFC’s transformation plan.
Newport Beach-based Engaged Capital, an investment firm which in October disclosed taking a significant stake in VF Corp., recently proposed significant changes to the operator’s business model that included reinvestment in Vans as one of the company’s largest brand units.
Vans made up 32% of VFC’s revenue for its last fiscal year. For more on Vans and VFC, see the Oct. 30 print edition of the Business Journal.
