VF Corp. had a better-than-expected first quarter, posting total sales of $2.8 billion. And much of its success can be attributed to the health of Vans.
The company announced today that its skate brand boasted 35 percent growth during the period.
And although the brand is rooted in skateboarding, VF Corp. chairman, president and CEO Steve Rendle believes Vans’ crossover appeal into other categories is responsible for its substantial growth.
“Vans is seeking its natural level as a top provider of active lifestyle footwear,” Rendle said.
While the label has several classic sneaker styles that collectors know and love, it is the Ultrarange that the firm said is winning for Vans right now.
Vans debuted the new silhouette, which boasts a contemporary shape and co-molded midsole construction, in May 2017. And since, has launched updates to the look such as high-top uppers and atypical enclosure systems. The shoes, according to the brand, were built with advanced comfort, lightweight traction and superior mobility in mind.
Prices of its Ultrarange styles range from $45 to $130 today on Vans.com.
And although the brand had a solid quarter, VF doesn’t expect the growth to slow down. Scott Roe, VF Corp.’s chief financial officer, stated today that Vans’ revenue is expected to increase at least 15 percent, with more than 25 percent growth in the first half of 2018.
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