By
Bloomberg
Published
May 31, 2024
VF Corp. has hired a senior executive away from Lululemon Athletica Inc. to lead a turnaround bid at Vans, the struggling skateboarding footwear and apparel brand.
Sun Choe, the former chief product officer of Lululemon, left her position at the yoga-wear brand abruptly last week. In that role, she oversaw design, merchandising and product development across menswear, womenswear and accessories.
Choe now joins a company and brand in turmoil: VF Corp. recently reported its seventh straight quarter of declining sales. Results included a precipitous 26% drop at Vans, the skate label best known for slip-on sneakers.
As part of a broader bid to cut costs, VF has sold off a pair of jets and listed its Colorado airplane hanger.
VF shares rose as much as 9.5% in after-market trading on Thursday afternoon. The stock had been down 34% this year through the day’s close.
