Supreme Owner VF Corp Shifts APAC Headquarters to Shanghai
Departing Hong Kong for China’s biggest city.
As VF Corporation lays out future plans for its Supreme acquisition, the apparel conglomerate is making moves to alter its structure in the APAC region. On January 11, the company announced plans to move its regional headquarters from Hong Kong to Shanghai while its Asia Product Supply Hub will transfer from the special administrative region to Singapore and a new services center is established in Malaysia.
Make no mistake, VF Corp. isn’t deserting Hong Kong — the company, which also operates Timberland, The North Face and Vans, issued a press release that emphasizes Hong Kong’s value as “a key retail market” — but this move is intended to strengthen VF Corp.’s Asian presence as a whole. The move to Shanghai, for instance, will purportedly “forge stronger and more relevant relationships with Chinese consumers” and by establishing a hub for its supply chain in Singapore, VF Corp. aims to better integrate its global supply network.
Currently, 900 VF Corp. employees work in Shanghai. The company expects to redeploy some of them, along with other product supply staff, throughout Asia to better establish communication with suppliers and heighten “back-end business functions.”
“We established our presence in Asia 25 years ago and have continually shaped our business around the region’s many evolving opportunities,” said Steve Rendle, VF’s chairman, president and CEO, in a statement. “As we build on this strong foundation, we also see significant opportunities in creating a hyper-digital supply chain with a key hub in Singapore that will enable us to unlock greater speed and agility in how we make, source and move our products around the world.”