Vans Brand Announces FY23 Financial Targets - Quick Facts

(RTTNews) - Vans, a VF Corp. (VFC) brand, provided details of its plan to grow revenue by $2 billion to reach $5 billion by fiscal year 2023, representing growth between 10 and 12 percent over the five-year period.

Footwear revenue is expected to grow at a five-year compounded annual growth rate (CAGR) between 10 percent and 12 percent. Apparel and accessories revenue is expected to grow to more than $1 billion, which represents a five-year CAGR between 13 percent and 15 percent. DTC revenue is expected to grow to approximately $3 billion, representing about 60 percent of global brand revenue and a five-year CAGR between 13 percent and 16 percent. DTC Digital revenue is expected to grow to more than $1 billion, which represents a five-year CAGR between 30 percent and 35 percent.