Shopkeepers' Nation

Susan Kellogg Named President of VF's Contemporary Brands Coalition

 

 VF has named Susan Kellogg as President of its Contemporary Brands Coalition, where she will lead the company's 7 For All Mankind, John Varvatos, Ella Moss and Splendid brands.  Kellogg most recently served as CEO of Elie Tahari and brings more than 25 years of apparel and retail experience to the table.  Prior to her role at Elie Tahari, she held a variety of leadership positions at Liz Claiborne, and from 2004 to 2007 was responsible for overseeing the brands Juicy Couture, Laundry by Shelli Segal, PrAna, Ellen Tracy, and Dana Buchman.

Splendid and Ella Moss Get a New York Showroom

 

 

California brands Splendid and Ella Moss will be getting some New York presence with a new 9,500-square-foot wholesale showroom on 39th Street between 7th and 8th Avenues.  After being acquired by VF Corp last March, the sister companies are in expansion mode, with Splendid's first retail store opening on Robertson Boulevard in Los Angeles in November and further stores planned down the line.  Splendid and Ella Moss's wearable looks have allowed the brands to prosper during the recession, and they posted combined revenues of $95 million at the end of last year.
 
 

Retail Stocks Rise as VF Beats Estimates

According to MarketWatch, retail stocks rose today as companies reported better than expected earnings.  Most notably, VF Corp, which owns 7 For All Mankind, Lucy, Splendid, and Ella Moss, among others, "jumped after its second-quarter profit decline was smaller than expected and it signaled an improved second-half outlook."  Chief executive Eric Wiseman said, "while business remains tough and profit was hurt by a stronger dollar and pension costs, [VF's] largest brands continued to gain market share," a positive sign that has people looking ahead to an economic rebound.

In other news, VF also came in first in the apparel category for Brandweek's Superbrands 2009 rankings.

VF Corp Beating the S&P 500

Bucking the trend of the current retail slump, the stock of VF Corp, the owner of brands such as Splendid, Ella Moss, 7 For All Mankind, and Lucy, is outperforming the S&P 500 year to date.  The company is currently up 8% versus the S&P 500's 4% gain, despite currency headwinds (with 33% of its revenue to tied to international markets, a strong dollar can be hard on its sales numbers), and a high dividend yield.

Ella Moss Designer Pamella Protzel Scott on LA.com

LA.com catches up with Ella Moss designer Pamella Protzel Scott, getting tips on where to go and what to wear from the purveyor of quintessential California style.

VF Corp Bucking Recession, Wall Street Journal Reports

VF Corp, the owner of 7 For All Mankind, Lucy, Splendid, and Ella Moss, among others, is bucking the recent trend among US apparel makers of holding back on spending and expansions, according to the Wall Street Journal.  The largest apparel maker in the world by revenue, VF plans to go forward with a five-year plan that began in 2007 to reduce its reliance on department stores and open more of its own outlets.  In 2008, VF drew 16% of its revenue from its own stores, and hopes to push that number up to 22% by 2012.  The company's strong balance sheet allows it to take advantage of deals on store leases and puts it in a good position to snap up new brands to gain market share from its competitors

VF Completes Purchase of Ella Moss and Splendid

 

VF Corp. completed its purchase of Ella Moss and Splendid parent company Mo Industries yesterday after purchasing a third of the company's capital stock in June.  VF will fund the $161 million for the remaining two-thirds of the purchase with cash flow from operations.  The two brands had a combined revenue of $95 million in 2008 and are expected to add $70 million to VF Corp's 2009 revenue.  Ella Moss and Splendid will be a part of VF's Contemporary Brands coalition, which also includes 7 For All Mankind, Lucy, and the newly added John Varvatos.

In addition, a lease has been signed for Splendid's first freestanding store on Robertson Boulevard in Los Angeles.

Amid Market Declines, VF Shares Rise

VF Corp, the parent company behind 7 For All Mankind and Lucy, and a partial investor in Splendid/Ella Moss, was one of the few gainers yesterday even as the company cut its fourth quarter guidance due to the weak sales that are affecting the entire retail industry.  Raising confidence on the part of analysts was their announcement of a cost-cutting plan, a strong outlook for 2009, and a solid balance sheet.  "VF is well-positioned to weather this difficult environment due to our strong brands and our long history of disciplined financial and balance sheet management," said Eric Wiseman, Chairman and Chief Executive Officer.

Mad Money Sides with VF Corp.

 

Jim Cramer calls VF Corp. a buy in this clip from last week's episode of CNBC's Mad Money, naming it "retail's real winner this season."  While department stores are slashing prices to bring in customers, vertically integrated suppliers like VFC make their money regardless, Cramer notes.  At the same time, it uses its tried and true brands like Lee and Wrangler to fund growth in younger brands like The North Face, 7 For All Mankind, Lucy, Splendid, and Ella Moss.

VF Corp. Acquires Stake in Ella Moss, Splendid

 

 

VF Corporation has purchased a one-third interest in Mo Industries, the parent company of women's labels Splendid and Ella Moss, with the option of a full acquisition in early 2009.  The high-end knitwear brands, known for being feminine and wearable, will play the perfect complement to the other two labels in VF's Contemporary Brands coalition, 7 For All Mankind and lucy.  The acquisition will allow for Splendid and Ella Moss to offer wider ranges of their casually chic designs while also creating the possibility of synergies with the denim and activewear lines.