VF Exploring Licensed Sports Group Options
VF Corp., Greensboro, N.C., is gauging the popularity of its Licensed Sports Group (LSG) business, and announced that it is exploring strategic options for the unit.
The LSG’s primary brand is Majestic Athletic, whose top customers include the National Football League and Major League Baseball, though apparel also is sold to consumers through licensing agreements within the U.S. and international sports leagues, individual athletes, colleges and lifestyle brands.
“As active portfolio managers, we constantly assess the composition of our company to ensure VF’s portfolio is aligned with our strategic objectives and positioned to maximize growth and return to our shareholders,” says Eric Wiseman, chairman and CEO, VF Corp. “In this respect, we are exploring options for our LSG business to position the organization to continue its success and achieve its future potential.”
The group represented $517 million in sales during 2015 — a 4% increase from the fiscal year of 2014.
For more information, visit vfc.com. — J.B.