From 2019: The recent quarter revenue reports from VF come not long after Piper Jaffray released its bi-annual
“Taking Stock with Teens” report. After surveying more than 8,600 U.S. teens about their spending habits,
the investment bank found that Vans – which first eclipsed outwear giant North Face as VF’s top-selling brand in March 2017 and
now makes up almost 25 percent of VF’s annual sales – was the fastest-growing brand in terms of finding teens’ favor
. Over all, Nike remains in the top spot, but Piper Jaffray noted that “staggering increases came from females, where Vans unseated Nike as the No. 1 brand among [upper-income] females.”
The results have been significant and consistent. For instance, Vans saw impressive double-digit growth between 2010 and 2014, and then sales hit $2 billion for the first time ever. It was 2015, and Vans was on track to meet its five-year growth plan, which was announced in 2012 and called for $1 billion in revenue growth, up to $2.2 billion by 2016.
When the time came to assess the result of the plan in 2016, Vans’ sales had not only met the goal, they had surpassed it, reaching $2.3 billion in revenue. As for its gross margins, the money the company makes after subtracting the cost of goods sold, those have grown from 48 percent in the early 2000’s to 60 percent.
