Vans-maker VF Corp soars on appointment of former lululemon exec Sun Choe
Published: 12:56 31 May 2024 EDT
VF Corp (NYSE:VFC, ETR:VFP) announced that it has appointed former lululemon (NASDAQ:LULU) chief product officer Sun Choe as global brand president of its Vans sneaker line.
Investors welcomed the news, sending shares of VF almost 11% higher at US$13.69 in the early afternoon on Friday.
“Sun is a strong leader who is focused on consumer insight and has a proven track record of driving brand heat, and translating it into financial results,” VR CEO Bracken Darrell said in a statement.
“I am confident that Sun is the right leader to take Vans to new heights.”
Choe added that she is passionate about “building high-performance cultures and teams and creating great designs and guest experiences that build long-lasting, meaningful connections with consumers around the world.”
“At Vans, we will do just that – capitalizing on the brand’s identity as a lifestyle defined by creativity and authenticity. I can’t wait to get to work,” she said.
Choe’s departure from lululemon earlier this month saw the apparel maker's market capitalization plunge by roughly $3 billion.
The stock is down about 38% in the year to date.
