VF Corporation Releases Fiscal Year 2022 Annual Profile on Inclusion, Diversity, Equity and Action (IDEA)

Download as PDF

Launches Global Inclusion, Diversity & Equity Council to advance VF’s diversity and inclusion goals, strategy, and advancements

DENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC), a leading portfolio of active-lifestyle brands including Vans®, The North Face®, Timberland® and Dickies®, today published its Annual Profile on Inclusion, Diversity, Equity and Action (IDEA) covering the company’s fiscal year 2022 (FY22).

With the goal of serving as a diversity and inclusion leader in the apparel industry, the report details VF’s continued commitment to build an inclusive associate culture, emphasize IDEA principles at a brand and consumer level, and reinforce equity and self-discovery in the communities where VF operates.

“This year’s report illustrates VF’s meaningful progress to empower associates, brands, consumers, and our greater society through inclusivity, allyship, and individuality,” said Lauren Guthrie, VF’s Vice President of Global Inclusion, Diversity, Equity and Action. “At VF, it is vital that the ideas we put forth are not just aspirational, but actionable. Our progress in FY22 across multiple fronts continues to drive business benefit and inspires us to further innovate and expand on our work.”

The Annual Profile outlines specific actions taken over the past fiscal year across VF’s footprint, including new corporate and brand-level partnerships, initiatives that address diversity and supply chain issues, associate-focused programs for VF’s workforce and updates on previously announced equity and parity goals.

  • By 2030, VF aspires to achieve gender parity at the director level and above worldwide, as well as a 25% Black, Indigenous and People of Color (BIPOC) representation at the director level and above in the U.S. During FY22, VF made these advancements toward these aspirations:
    • Women-identifying associates account for 42% of the global director and above population.
    • BIPOC associates comprise 18% of the director and above population in the U.S.
    • 53% of VF’s total global workforce are women and representation of BIPOC associates grew throughout the year to 56% of the U.S. workforce.
    • 61% of new U.S. hires and 48% of U.S. promotions are members of the BIPOC community.
  • To advance opportunities for BIPOC designers, VF brands collaborated with Portland-based PENSOLE Design Academy on the DiverCity x Design apprenticeship program. The immersion program welcomed its first cohort of five up-and-coming designers who spent three-month rotations with the Altra®, The North Face®, Timberland® and Vans® brands to gain knowledge of different work cultures and design experiences. Four of the designers are now employed full-time on the Vans® and Timberland® design teams.
  • In FY22, VF established the Global Inclusion, Diversity & Equity Council (GIDEC) to further prioritize the work of IDEA as a core business initiative and work throughout the company’s operations to help drive performance and positive outcomes for employees, the organization and the world beyond.
  • The VF Foundation became a founding member of The Resilience Fund for Women in Global Value Chains. This collaboration provides unrestricted funds to organizations in South Asia, allowing women to direct resources in their communities. Going forward, The VF Foundation will direct 10% of annual U.S. grant funding to support community initiatives that are consistent with VF’s racial equity strategy.
  • VF’s Limit Less Learnings Retail Apprentice program facilitates career growth in corporate positions for all associates including our retail BIPOC associates. The program hires 15 apprentices annually to work across our brand portfolio.
  • VF has focused on the establishment and expansion of four employee resource groups (ERGs). WOVEN (Women of VF Empowerment Network), ACE Diversity, VF Pride and Veteran Forces serve as resources for associates to foster community and live authentically in the workplace.

Guthrie concluded, “We have a vision of what we want to create — a world that is inclusive, diverse, equitable and accessible across race, ethnicity, ability, gender, sexual orientation and culture — not only at VF but also in our communities, our global supply chain and across the footwear and apparel industry. The only way to build sustainable, long-term change is to stay steadfast as we ascend the summit to equity.”

Read the full report here.

About VF Corporation

Founded in 1899, VF Corporation is one of the world’s largest active-lifestyle companies which connects people to the activities and experiences they cherish most through a portfolio of outdoor, active, workwear and streetwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.

Colin Wheeler
Colin_wheeler@vfc.com

Source: VF Corporation

Released November 14, 2022