MANUFACTURING – WINNERS AND LOSERS
December 1st, 2011
BY KEITH NUTHALL
WINNERS
VF
In one of 2011's biggest deals, US-based VF announced its plans to buy major footwear brand Timberland in a US$2bn takeover. As well as boosting earnings by US$700m a year, the purchase would leverage VF platforms in Europe, Asia and Latin America, and boost e-commerce operations. VF said it would "aggressively" grow Timberland's women's wear business. The June announcement - which received regulatory approval - was followed by healthy Q2 figures with strong sales growth in outdoor and action sports (up 23%) to jeans and ...
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