14th January 2021 – (Hong Kong) In the foreseeable future, it is believed that more and more apparel brands will withdraw their Asian or Greater China headquarters from Hong Kong. In the short term, this will undoubtedly be a big blow to the industry. The American apparel group VF Corporation announced yesterday that it will gradually withdraw the group’s Asian headquarters from Hong Kong and move to Shanghai (about 900 people have been hired locally). The Asian product supply centre will also move to Singapore.
VF Corporation (formerly Vanity Fair Mills until 1969) is an American worldwide apparel and footwear company founded in 1899 and headquartered in Denver, Colorado. The company’s more than 30 brands are organised into three categories: Outdoor, Active and Work. The company controls 55% of the U.S. backpack market with the Supreme, VANS, Kipling, JanSport, Eastpak, Timberland, and North Face brands.