VF Corporation (NYSE: VFC), a global leader in lifestyle branded apparel, announced today that it has completed its previously announced acquisition of lucy activewear, inc. With approximately $57 million in annual revenues, Portland, Oregon-based lucy®is a rapidly-growing women’s active lifestyle brand. Founded in 1999, the brand is sold through a base of 50 owned retail stores and online through www.lucy.com.
“We are delighted to welcome lucy’s 680 associates to VF,” said Mackey J. McDonald, Chairman and Chief Executive Officer. “The lucy® brand is healthy and growing, with a rapidly expanding base of stores. We look forward to working with lucy’s talented management team as they continue to execute the brand’s exciting growth strategy.”
As previously indicated, Mike Edwards, current Chief Executive Officer, and his team will continue to lead the business from lucy’s headquarters in Portland. “With VF's extensive resources, lucy can take its customer experience to a new level in innovative product offerings, additional stores and outstanding customer service,” commented Edwards.
VF Corporation is a leader in branded lifestyle apparel including jeanswear, outdoor products, image apparel and sportswear. Its principal brands include Wrangler®, Lee®, Riders®, Rustler®, The North Face®, Vans®, Reef®, Napapijri®, Kipling®, Nautica®, lucy®,John Varvatos®, JanSport®, Eastpak®, Eagle Creek®, Lee Sport®, Majestic®and Red Kap®.
VF Corporation's press releases, annual report and other information can be accessed through the Company's home page, www.vfc.com.
About lucy activewear, inc.
lucy is a Portland, Oregon-based lifestyle apparel company for women who value fit, style and performance. lucy isn’t a specific person – she lives in all of us as we attempt to live a healthy, balanced life. Life is not only about being at the gym or yoga studio; it’s about the everyday routine of multi-tasking errands, activities with family and friends, and taking care of yourself from the inside out. An expert in active ways of life, lucy listens carefully to the needs of women and creates apparel with on-the-go performance and versatility, as well as a healthy dose of style and color. With its own lucy label and exclusive designs from other designers and brands, lucy stands apart and inspires confidence in those who wear the products and visit the stores.
The company operates 50 stores in Arizona, California, Colorado, Washington D.C., Illinois, Maryland, Michigan, Minnesota, New Jersey, Oregon, Texas, Virginia, Massachusetts and Washington, and online at www.lucy.com.
Cindy Knoebel, CFA
VP, Financial & Corporate Communications