VF builds contemporary division

GREENSBORO, N.C. VF Corp. announced today that it has signed definitive agreements to acquire Seven For All Mankind, LLC and lucy activewear inc. According to VF, these companies will be the foundation for a new lifestyle brand-based coalition, VF contemporary brands, which VF intends to build with additional contemporary brands over time. Upon closing these transactions, VF will name Mike Egeck as president of VF contemporary brands, in addition to his current role as ceo of Seven For All Mankind, reporting to Eric Wiseman, president and coo of VF Corp.

"Our ability to identify, acquire and grow brands has been a key driver of shareholder value over the past several years, and we're clearly maintaining this momentum," said Mackey McDonald, chairman and ceo. "The acquisition of these high growth, high potential brands marks another milestone in the continuing success of our growth plan. These brands extend our reach to important and growing consumer segments, broaden our presence in healthy and growing channels of distribution, provide us with additional vehicles to expand our direct-to-consumer business through owned retail stores and online sales and offer the potential for continued growth internationally."