History
The company was established first as Reading Glove and Mitten Manufacturing Company in Pennsylvania in October 1899 by John Barbey and a group of investors. The company was started with $11,000 and a 320-square-foot (30 m2) factory that was leased for $60/month. It was incorporated in Pennsylvania on December 4 of that same year. The manufacture of undergarments began in 1919, accompanied by a name change to Vanity Fair Mills. Shares were sold to the public in 1951. The H.D. Lee Company (now Lee Jeans) was acquired by the company in 1969 and the corporate name was changed to VF Corporation to reflect the more diverse product line. Blue Bell Inc., the owner of such brands as Wrangler and JanSport, was acquired in 1986, effectively doubling the size of VF and making it the largest publicly-held apparel company.
The company announced the purchase of VF Corporation's underwear business by Fruit of the Loom for $350 million in cash on January 23, 2007.
On February 28, 2007, VF Corporation acquired Majestic Athletic. On July 26, 2007, VF Corporation announced the purchase of Seven for all Mankind and Lucy Activewear for a combined $885 million. On June 13, 2011, VF Corporation announced its intention to purchase Timberland for $2.2 billion. The deal closed in September, 2011.
Read more about this topic: VF Corporation
Famous quotes containing the word history:
“What is most interesting and valuable in it, however, is not the materials for the history of Pontiac, or Braddock, or the Northwest, which it furnishes; not the annals of the country, but the natural facts, or perennials, which are ever without date. When out of history the truth shall be extracted, it will have shed its dates like withered leaves.”
—Henry David Thoreau (1817–1862)
“The history of men’s opposition to women’s emancipation is more interesting perhaps than the story of that emancipation itself.”
—Virginia Woolf (1882–1941)
“When the history of guilt is written, parents who refuse their children money will be right up there in the Top Ten.”
—Erma Brombeck (20th century)