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The Direct-to-Consumer category includes internet and retail stores (VFC is primarily a manufacturer/wholesaler). DTC revenues are driven by North Face, Vans and 7 For all Mankind. (Timberland will be a huge international driver going forward.) From their recent press release...

Growth in Direct-to-Consumer Revenues

Direct-to-consumer revenues increased 53% in the quarter, with 37 percentage points of the growth attributable to the Timberland acquisition. Direct-to-consumer revenues of The North Face®, Vans®, and 7 For All Mankind® brands each achieved growth in excess of 20% in the period. A total of 46 stores were opened across our brands in the quarter and 122 stores during the year, bringing the total number of owned retail stores to 1,068 at the end of 2011 (including 215 Timberland stores). At year-end 2011, direct-to-consumer revenues accounted for 19% of VF’s total revenues compared with 18% in 2010.


cautiousone
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