The company property of VF Corporation is planning to launch 25 to 30 stores in the region combining the franchise and own-store model.
Timberland is on a progressive expansion across Europe. The company, owned by the fashion giant VF Corporation, is set to open 25 to 30 stores on the European region in the following year. The opening is part of an strategical plan to continue progressing in Europe. In fact, this year, Timberland has already opened the same amount of stores that is expecting to launch in 2020.
The president of Timberland for EMEA (Europa, Middle-East and Africa), Timo Schmidt-Eisenhart, has stated that the company is focused on the opening of mono-brand stores in the European region at the moment. However, he has also assured that the model Timberland is going to follow will be combined between the own stores and the franchise opening procedure. The company's executive remarks that the consumer does not realize the fact of the store's property.
Although the president of Timberland for EMEA did not pointed the exact amount of stores opening in each country, he assured that the launches will be “across the board”, being France, Italy, Germany, UK and Spain the countries mainly spotted by the clothing brand. In terms of business, Timo Schmidt-Eisenhart also remarked that Spain could be the number one country on having more openings next year.
Timberland will open between 25 and 30 stores across Europe in 2020
Besides, Germany, due to its size and population, and Italy, where Timberland's footwear business is already running satisfactory, are also two of the countries where a more powerful expansion of the company is expected.
The executive of Timberland has made the statement during the presentation of the new office of VF Corporation, parent company of Timberland in London. Right in the middle of the Soho neighbourhood, the VF Axtell Soho will offer a new perspective for the sustainaible design of VF's brands, as the innovation is the main purpose of the opening.
Besides, the VF Axtell Soho, a completely refurbished building, will offer a B to B experience for wholesale customers, which will be able to visit the six floors of the building, each one of them dedicated to the company's brands. Timberland, Vans, The North Face and Kipling have their own space to capture potential consumers in its B to B business.
Timberland has an own floor in the new office of VF corporation in London, destinated to innovation purposes
Moreover, the new office in London is set to be a training center for VF brand's employees. In this sense, the floors of the building are designed to transmit the values of the brands, which in a late term will be delivered to the final consumers by store's employees.
At the end of the fourth quarter of 2019's fiscal year (ended on 31 March), VF Corporation earned 3.2 billion dollars in terms of revenue, a 6% more than in the same exercise of the previous year. Besides, the corporation grew a 12%, up to 13,800 million dollars (12,366 million euros) in 2018 fiscal exercise. For its part, Timberland increased also a 6% its revenue growth, being the Americas and EMEA the regions which contributed most to the raise.