Apparel Maker Leans Heavy On Events To Help Double Revenue
V.F. Corporation's largest action sports brand, Vans, has set forth an ambitious plan to double revenues to $2.2 billion by 2016. As a brand primarily built on skateboarding culture, events and promotions, company executives say they will look to ratchet up "consumer interactivity" to meet their goal of an annual growth rate of 13%.
"Live and in person and live on the web, Vans events and promotions bring our brand stories to life. From Beijing to Buenos Aires to Brooklyn, where we are today, not a weekend goes by without a Vans activation taking place," VP of Marketing Doug Palladini said. "There's the House of Vans right there, the Pro-tec Pool Party. Live music in Berlin and documentary filmmaking, which helps us tell our story."
With VF Corporation's marketing muscle, Vans has more than tripled its revenues since being acquired in 2004. Key to the marketing strategy has been unique content such as its tremendously successful offthewall.tv website.
"In the past 5 years, Vans has transformed our marketing department from focusing on a traditional advertising model to one in which innovating with interactive experiences is now paramount," Pallidini continued. "We cannot be a youth culture brand connected to our consumers today without a leading role in interactivity.
Company executives hope that geographic and product expansion will fuel the brand's planned growth. Vans today revealed its new line of LXVI footwear for the action sports enthusiast and a key marketing focus will be expanding the brand beyond its West Coast roots. Major metropolitan areas such as New York City and Mexico City will be utilized as epicenters to drive brand awareness, executives say.
To meet its goal of reaching $2.2 billion by 2016, Vans plans to add more than 200 stores to its existing retail footprint of 310 stores.