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As a part of the Italian fashion brand’s ongoing management restructuring, Massimo Vian is set to step down from his position as Director-Industrial and Supply Chain, Gucci. Vian was appointed by the Kering-owned brand in 2023.
The 52-year-old Italian executive was responsible for managing the product development and production operations for Gucci’s leather goods, footwear, ready-to-wear, and jewelry divisions. He also managed the brand’s product distribution across its global retail network.
Having extensive experience in operations within the luxury sector, Vian plans to soon move to another company. He was earlier engaged as the Deputy General Manager-Product and Operations at the Italian eyewear giant Luxottica. Having joined the company in 2005 as director of industrial engineering, he spent 13 years at the company leaving it in 2017. Vian then led Italian cashmere brand Falconeri, a part of the Oniverse Group for a year before joining Prada in 2020 as chief operating officer.
Recently, Vian made headlines as he was investigated by the Italian financial markets regulator, Consob on allegations of being involved in insider trading 2020. He denies the allegations and has announced plans to contest the case in court.
His departure comes at a time when Gucci is set to enter a new growth phase under the anticipated creative direction of Demna. Last week, the brand announced two additional executive appointments. It named Maria Cristina as President-EMEA region and Marcello Costa as Director-Merchandizing.
Tangshan Sanyou has launched a new pilot facility to advance circular textile innovation in Man-Made Cellulosic Fibre (MMCF) production. The new line, with a ten-tonne capacity, will test an innovative solvent-based process that converts waste cotton textiles directly into high-quality viscose fibres. These fibres will feed into the company’s recycled MMCF line, ReVisco.
This development follows years of investment in circular fibre solutions. Since 2018, Tangshan Sanyou has integrated recycled textile feedstocks into its MMCF operations, supporting the transition to more sustainable and lower-impact fibre production.
Among its key achievements, the company became the first conventional MMCF producer to incorporate Circulose recycled cotton pulp at a 30 per cent blend into ReVisco viscose staple fibre, including black viscose and additional colourway trials. Tangshan Sanyou recently renewed its collaboration with the new owners of Circulose as the Swedish mill prepares to restart operations.
The company also blends Sodra’s OnceMore recycled cotton pulp at 20 per cent into ReVisco viscose and modal fibres. It has announced readiness to scale ReVisco production up to 200,000 tonnes annually based on market demand and is also developing a lyocell version of ReVisco using recycled inputs.
Tangshan Sanyou has successfully trialled viscose fibre production using non-traditional feedstocks like hemp and Juncao. With a total MMCF production capacity of 808,000 tonnes, the company is among the world’s largest producers.
A Canopy partner since 2016, Tangshan Sanyou earned a Dark Green Shirt rating in the 2024 Hot Button Report and is assessed as having no known risk of sourcing from Ancient and Endangered Forests.
As per latest data released by the Bureau of Labor Statistics (BLS), in a deviation from broader inflationary pressures gripping the US economy, apparel prices have continued to move south,. The Consumer Price Index (CPI) for apparel saw a decrease of 0.2 per cent from March to April 2025, and a significant 0.7 per cent decline over the past 12 months ending in April.
This is a contrast to the overall CPI, which rose by 0.2 per cent in April and 2.3 per cent year-over-year. While prices for many goods and services, such as household furnishings (+1.0 per cent in April) and medical care (+0.4 per cent in April), continued to rise, the apparel sector is experiencing deflation.
The BLS data corroborates the trend illustrated in the provided bar graph, which shows month-to-month percentage changes in the U.S. Consumer Price Index for Apparel. The graph indicates volatility in apparel prices throughout the latter half of 2024 and early 2025, culminating in the recent declines.
Tariffs impact
Analysts attribute this unusual dip in apparel prices to the initial impact of the reciprocal tariffs imposed under President Trump's ‘America First’ trade policy. These tariffs, which came into effect earlier this year, have increased the cost of imported apparel from key trading partners.
"The fashion industry is feeling the pinch," explains Anya Sharma, a senior trade analyst at Global Trade Insights. "With tariffs on apparel imports from countries like China, Vietnam, and Bangladesh soaring, retailers are facing a difficult choice: absorb the higher costs or pass them on to consumers. It appears that, at least initially, many are opting to lower prices to maintain sales volume in a potentially softening consumer market."
Table: US Consumer Price Index for apparels
|
Month |
% Change |
|
September 2024 |
1.00% |
|
October 2024 |
-0.90% |
|
November 2024 |
0.10% |
|
December 2024 |
0.10% |
|
January 2025 |
-1.40% |
|
February 2025 |
0.60% |
|
March 2025 |
0.40% |
|
April 2025 |
-0.20% |
Source: Bureau of Labor Statistics
Despite the drop in apparel prices, inflation remains a concern across much of the US economy. The energy index, while showing a 0.7 per cent increase in April, is still down 3.7 per cent over the year, largely due to falling gasoline prices (-11.8 per cent year-over-year). Food prices, however, continue to rise, with a 2.8 per cent increase over the last 12 months.
Retailers say, they are in a tricky situation as the tariffs have increased sourcing costs, but they are hesitant to raise prices when consumers are already feeling the inflationary pressures from other areas. That is why retailers have had to make some tough decisions about inventory and margins.
Looking ahead
The difference in apparel prices raises questions about the sustainability of this trend. Some analysts believe retailers may eventually be forced to pass on the higher tariff costs to consumers, potentially reversing the recent price declines. Others suggest increased domestic production, while facing its own challenges regarding raw material costs and labor, could become a more viable long-term strategy.
The May CPI report, due in June, will be closely watched for further indications of how the tariffs are impacting consumer prices across various sectors, including apparel. The puzzle of market trends in the face of these new trade policies is far from solved.
Recycling used clothing, household linens (TLC), and shoes continues to be a major hurdle, primarily due to the intricate mix of materials and decorative elements prevalent in their design. However, a groundbreaking study update by Refashion in 2024, drawing upon research from ENSAIT (École Nationale Supérieure des Arts et Industries Textiles) and insights from industry stakeholders, pinpoints specific design choices as either major disruptors or crucial enablers in the recycling process.
The report, titled ‘Disruptors and facilitators of the recycling of Clothing Textiles, Household Linens and Footwear (TLC): State of play’, emphasizes the critical role of eco-design in integrating recyclability right from the initial stages of product creation. "Our updated study underscores a fundamental truth: the decisions made at the design table have a profound impact on whether a textile or shoe can be effectively recycled at its end-of-life," explains a Refashion spokesperson. "By understanding and minimizing disruptors while maximizing facilitators, we can significantly advance the circularity of the textile and footwear industries."
Decoding disruptors, the recycling saboteurs
The research identifies several ‘disruptors’ that complicate or even prevent efficient recycling. These can be external additions like buttons, zippers, and intricate embroidery, or internal elements inherent to the material composition. For example, a seemingly fashionable jacket made from a blend of cotton, polyester, and rayon with over 8 per cent elastane and adorned with numerous metal studs exemplifies a product riddled with disruptors. Separating the fibers is technically challenging, the high elastane content compromises mechanical recycling, and the metal studs necessitate manual removal, adding significant cost and time to the process.
Disruptors identified
• Complex material mixtures: Fabrics composed of three or more different fiber types pose a significant challenge for separation and subsequent recycling processes.
• High elastane content: The presence of elastane exceeding 5 per cent in textiles hinders mechanical recycling processes and can contaminate other material streams.
• All-over decorative elements: Features such as sequins, coatings, prints, and rigid embellishments not only complicate sorting but can also damage recycling machinery.
• Metalloplastic threads: These threads, often used for decorative purposes, are difficult to separate and can interfere with various recycling technologies.
• Electronic and electrical components: Increasingly found in smart textiles and footwear, these components require specialized removal and processing to avoid damaging equipment and contaminating material streams.
Facilitators, paving the way for circularity
Conversely, the study highlights design choices that significantly ease and improve recycling processes. These facilitators offer pathways towards a more circular system.
Facilitators identified
• Monomaterial composition: Textiles made from a single fiber type (e.g., 100 per cent cotton or 100 per cent polyester) are the most straightforward to recycle, allowing for efficient sorting and processing.
• Single-layer construction: Garments and linens made with a single layer of fabric, without bonded or laminated layers, simplify the recycling process.
• Monochrome fabrics without superfluous additions: Plain, single-colored textiles without purely aesthetic embellishments streamline sorting and processing.
• Hot-melt wires for dismantling: The use of heat-sensitive wires in shoe construction can facilitate easier separation of the upper and sole components.
"Imagine a simple T-shirt made from 100 per cent organic cotton, dyed with a single, eco-friendly color, and free of any unnecessary embellishments. This seemingly basic design is a recycling champion," states Anya Sharma, a textile sustainability expert consulted for the study. "It allows for efficient mechanical recycling, preserving the valuable cotton fibers for future use."
Shoe recycling, sector ripe for innovation
The study sheds light on the particularly complex landscape of shoe recycling, which is still in its nascent stages. The vast array of materials used, intricate assembly methods (welding, sewing, injection molding), and the frequent inclusion of metal and electronic components present significant hurdles. Currently, shoe recycling primarily relies on either crushing the entire shoe or manually/automatically separating the upper and sole.
The research emphasizes the urgent need for design innovation in the footwear sector to incorporate more facilitating elements and reduce the use of disruptive materials and complex constructions.
Eco-design for a circular future
Refashion's study serves as a crucial resource for designers, manufacturers, and policymakers. By clearly identifying disruptors and facilitators, it provides actionable insights for integrating recyclability into the very fabric of product design. This shift towards eco-design is paramount in achieving a truly circular economy for textiles and footwear, reducing waste, conserving resources, and minimizing the environmental impact of these industries. The report underscores that the future of textile and shoe recycling hinges on the choices made today at the drawing board.
Woolmark has introduced a new resource in both physical and digital formats as a comprehensive guide for wool denim fabrics.
Titled, ‘The Wool Lab Denim Edition,’ the research material is presented in two books, organized in seven distinct categories: A Revised Classic, Special Treatments, Denim Shirting, The Denim Suit, Signature Denim, Thread Rebels, and Denim-Inspired Knits and Jerseys. This specialized Wool Lab highlights innovative new blends, such as wool-hemp, wool-lyocell, and even 100 per cent extra-fine wool spun with luxurious fibers like silk, cashmere, or paper. These blends offer unique benefits and applications for those on the cutting edge of innovation.
Additionally, Woolmark emphasizes wool’s natural thermoregulating properties, making wool denim suitable for all seasons by providing immediate warmth and mitigating the initial chill often associated with cotton jeans.
The accompanying toolkit offers in-depth insights into wool's performance in denim applications, providing guidance on fiber selection, fabric construction, finishing techniques, and sustainability practices.
While denim has historically been synonymous with cotton, Woolmark notes a growing demand for wool-infused denim, which it claims offers an ‘elevated sensibility to this timeless staple.’
Demand for wool denim swatch requests through The Wool Lab has been increasing over the past four years, states Julie Davies, GM for Processing Innovation & Education Extension. The timeless appeal of denim is enriched with wool’s skin-friendly softness, breathability, versatility, and durability, resulting in wardrobe essentials that transcend the ordinary, she adds.
Woolmark prominently featured the launch at Denim PV in Milan earlier this week, marking its first dedicated presence at the event. This space aimed to underscore the ‘versatility and iconic nature of wool denim.’
Textile and apparel (T&A) industry leaders in Bangladesh have warned against a severe gas shortage, which, according to them, has crippled operations for nearly three years and pushed many mills to the brink of collapse.
At a joint press conference in Dhaka, Showkat Aziz Russell, President, Bangladesh Textile Mills Association (BTMA), emphasized, the industry needs a roadmap for gas supply as it cannot run its mills, he stated, urging the government to prioritize increased energy supply in the upcoming fiscal budget. Despite previous lobbying efforts against gas price hikes, rates were raised, yet supply failed to improve.
Russell also suggested, the government should engage Chinese investors to rapidly establish gas supply from Bhola to Dhaka and surrounding areas. Expressing skepticism about attracting foreign investment given the current struggles faced by local businesses, he noted, many entrepreneurs are now considering exit strategies due to unsustainable operating conditions. Most mills are currently running at only 50 per cent capacity.
Many mills are being forced to use expensive diesel, quadrupling costs, while the adviser reportedly favors diesel imports over liquefied natural gas (LNG) due to quicker payment collection from customers, Russell further noted. Furthermore, many businesses are not receiving gas despite substantial deposit payments to supply companies, he added.
Anwar-Ul-Alam Chowdhury (Parvez), President, Bangladesh Chamber of Industries (BCI), critiqued, the government has failed to meet its gas supply commitments, drawing a stark contrast to the severe penalties faced by businesses unable to fulfill their own obligations.
Hossain Mehmood, Chairman, Bangladesh Terry Towel & Linen Manufacturers & Exporters Association (BTTLMEA), confirmed, the gas crisis has resulted in five to six terry towel mills shutting down operations, with home textile mills also facing closure.
Attributing the crisis to a planning failure, Razeeb Haider, Director, BTMA, pointed out, last year's LNG imports were woefully inadequate. Calling for increased domestic gas drilling, particularly offshore, speakers urged the government to curb corruption in gas supply and immediately double LNG imports.
Md Saleudh Zaman Khan, Vice-President, highlighted the extreme low gas pressure in areas like Bhulta, making full mill operation impossible despite hefty monthly overheads. He warned, if the gas crisis isn't resolved by June, many mills might close permanently after Eid-ul-Azha.
Emphasizing on the industry's fight for survival, Abdullah Al Mamun, Director, BTMA, warned, widespread mill closures would severely impact the nation.
An Austria-based international technology group, Andritz has installed a Rexline tearing system at Pacific Jeans, enabling the company to recycle waste generated during the jeans cutting process.
Processing up to 800 kg of fiber per hour, this new Rexline system allows Pacific Jeans to produce high-quality fibers for the spinning industry. These recycled fibers will then be used to manufacture new jeans, significantly reducing the carbon footprint and cost compared to using virgin cotton.
Bangladesh's garment industry is a major economic driver, with an estimated $50 billion in exports in 2024, making it the world's second-largest clothing exporter after China. While fast fashion has been a significant part of these exports, with brands like H&M sourcing heavily from the country, Bangladesh is actively working to address the growing issue of global textile waste. In 2023, the nation hosted its first Bangladesh Circular Economy Summit, bringing together local and international stakeholders to foster a more circular garment industry.
A premium denim producer in Bangladesh since 1984, Pacific Jeans Group is committed to sustainability and collaborating with partners like Andritz to improve circularity and achieve net-zero climate impact.
Syed M Tanvir, Managing Director, Pacific Jeans, says, Bangladesh’s dynamic clothing industry has great potential for post-industrial waste recycling. By transforming Pacific Jeans’ cutting waste and reusing this recycled fiber in fabric production, the company aims to close the loop and move the fashion industry towards a greener future.
Lenzing AG has named Georg Kasperkovitz as its new Chief Operations Officer (COO) and member of the Managing Board, effective June 1, 2025. With over 15 years of global leadership experience across Europe, North America, and Asia key regions for Lenzing’s operations Kasperkovitz is set to play a pivotal role in driving the company's operational transformation.
A mechanical engineer with a doctorate from TU Vienna and an MBA from Harvard Business School, Kasperkovitz has held senior roles at leading organisations including Mondi plc, Rail Cargo Austria AG, and McKinsey & Company. His expertise spans packaging, logistics, and strategic consulting, with a strong track record in performance improvement and operational leadership.
At Lenzing, he will oversee global fibre production, champion the ongoing performance program, and lead operations at the company’s main site in Upper Austria. His appointment expands Lenzing’s Managing Board to four members.
Chairman Patrick Lackenbucher noted that in light of macroeconomic pressures, including high energy costs and global competition, Lenzing must remain focused on profitability and operational efficiency. He emphasized that Kasperkovitz brings essential transformation skills and experience in the nonwovens sector.
CEO Rohit Aggarwal highlighted the company’s recent gains under its performance program and the need to enhance agility and resilience amid geopolitical shifts. He welcomed Kasperkovitz as a key driver in advancing operational excellence across Lenzing’s fibre production network and securing its leadership in sustainable cellulose fibres.
Europe is grappling with a colossal textile waste problem. Over 125 million tonnes of raw materials are devoured by the global industry each year, yet a mere fraction – less than 1% – of these fibres originate from recycled textiles. The majority faces an unsustainable fate in landfills, incinerators, or is exported. A pivotal new report by Systemiq, "The Textile Recycling Breakthrough," offers both a stark assessment and a strategic roadmap: Europe has the potential to amplify polyester textile recycling nearly tenfold by 2035, but this hinges on immediate, decisive action from policymakers and the industry.
The comprehensive study, backed by a 17-member Steering Group including industry giants like Arc’teryx, Eastman, Interzero, Textile Exchange, and Tomra, zooms in on polyester – a material constituting roughly 57% of global fibre demand. It champions advanced recycling technologies like depolymerisation, which can convert post-consumer polyester back into high-quality fibres with a reduced environmental impact compared to virgin material production.
The Steep Climb: Cost and accessibility challenges
Despite technological promise, the journey towards a circular textile economy is fraught with significant economic hurdles. The Systemiq report highlights a substantial "cost gap": producing recycled polyester via depolymerisation is currently estimated to be about 2.6 times more expensive than virgin polyester sourced from Asia. Shivam Gusain, Water Engineer, Dyestuff Chemist & LCA analyst in his linkedin post analysis suggests this gap could be even wider; with recent virgin PET prices in China hovering around €750-€800 per ton (lower than the report's €950 estimate), the premium for recycled content could be nearly threefold.
2025 Estimated Cost Comparison: Virgin vs. Recycled Polyester (per ton)
|
Feedstock Source |
Estimated Cost (Systemiq Report Basis) |
Potential Actual Market Cost Gap |
|
Virgin Polyester (Asia) |
€950 (report estimate) |
Base |
|
Recycled Polyester (T2T Depolymerisation) |
~€2,479 (implied 2.6x) |
Potentially >€1,600 (near 3x) |
(Note: This table contrasts the Systemiq report's cost gap with industry expert analysis suggesting a potentially larger current market gap.)
Critically, as the industry expert points out that the common assumption that scaling up T2T processes will dramatically lower costs is challenged by the report itself, which indicates that such scaling might only reduce costs by about 15 percent. This suggests that economies of scale alone may not be the panacea for the textile recycling cost dilemma.
Adding to the complexity, less than 1% of post-consumer textile waste is currently even suitable and accessible for these advanced recycling methods.
A Ten-Lever blueprint for a recycling revolution
"The Textile Recycling Breakthrough" proposes a strategic ten-lever approach across four key intervention areas, designed to steer Europe towards a "tipping point" where recycled polyester becomes the more viable and attractive option:
I. Unlocking feedstock:
● Implement design for recycling: Mandating designs that simplify end-of-life processing.
● Establish widespread separate collection: Ensuring textiles are diverted from general waste.
● Set standards for sorting for recycling: Creating clear, harmonised guidelines.
● Establish clarity on trade: Implementing responsible policies for textile waste exports.
II. Bolstering demand:
● Create demand-side policy incentives: Driving market appetite for recycled content.
● Ensure brand & supply chain commitments: Encouraging industry pledges. As Kyle Wood, Senior Director Strategy at Arc'teryx, notes, the report "helps chart a path forward for brands... It's also a powerful reminder that design does not exist in isolation, and must proceed in partnership with long term commitments and policy frameworks."
III. Optimising production costs:
● Reduce EU energy prices: Addressing a key operational expense for recyclers.
● Derisk investments: Providing financial safeguards for new recycling infrastructure.
IV. Bridging the financial divide:
● Fully cover net costs with EPR: Implementing Extended Producer Responsibility schemes, with the report suggesting fees around €250–€330 per tonne of polyester.
● Internalise shipping costs: Potentially via a ~5% brand-level green premium to make virgin materials reflect their true costs.
Julia Haas, Head of Commercial Partnerships at Interzero, emphasized the collaborative effort required: "Through the interplay of both political and industry-driven levers, Europe has a great opportunity to make circularity in textiles a reality... Bold, long-term policy action is needed to help create stable market conditions and reduce investment risks."
Scrutiny and Questions: EPR burdens and environmental data
The report's reliance on EPR fees to cover a significant portion of the cost gap – roughly 55% (€829 of the €1,529 per ton difference) – has raised questions among some industry observers. A key concern is whether using EPR fees to subsidize recycled materials essentially reroutes costs that brands would have incurred anyway, ultimately passing them down to consumers. This could mean end-users footing the bill for scaling recycled fibres for years before substantial volumes become available, effectively pre-paying for future output.
Further Shivam debate surrounds the environmental impact data. The report references CO₂ savings from a 2023 JRC study which, according to some analysts, predominantly focuses on general plastics like bottles and packaging, not the more complex textile-to-textile recycling processes. Extrapolating data from bottle-to-bottle recycling to textiles is seen as a potential oversimplification, suggesting the true CO₂ impact of T2T recycled fibres might be higher than reported.
One specific figure drawing scrutiny is the 0.4 kilograms CO₂ equivalent per kilogram reported for glycolysis, a chemical recycling method. For context, mechanical PET recycling typically registers around 0.45 kilograms CO₂ equivalent per kilogram. The notion that a more energy and chemically intensive process like glycolysis could have a lower footprint than mechanical recycling is being questioned by some experts, who anticipate further exploration of this data.
Projecting the Future: A transformed textile landscape?
Despite these debates, Systemiq's projections, if the ten levers are effectively deployed, are ambitious: depolymerisation capacity in Europe could surge nearly tenfold by 2035.
Projected EU Textile Waste Recycling: 2035 Vision (with Levers)
|
Metric |
Impact by 2035 |
|
Depolymerisation Capacity |
Near 10x increase |
|
Overall Recycled Volume |
Substantial Growth |
|
Landfill/Incineration/Export |
Significantly Reduced |
|
Consumer Cost (400g jumper) |
Approx. €0.15 (for EPR & green premium) |
|
Annual Value Generation (2040) |
€5.5 billion (broader PET/polyester system) |
|
Net New Jobs (2040) |
28,000 (broader PET/polyester system) |
(Source: Systemiq, The Textile Recycling Breakthrough)
Eric Dehouck of Eastman Circular Solutions France remains optimistic about the technological readiness: "Europe has the opportunity to lead the transition to circular textiles, and technologies like depolymerization are ready to play a central role."
The Path Forward: Beyond recycling
The Systemiq report, while championing a recycling breakthrough, also underscores that recycling alone is not a silver bullet. A truly circular textile economy, as noted by the Ellen MacArthur Foundation's Matteo Magnani, requires "deeper changes in how we design, produce, consume, and value clothing," alongside scaling circular business models like resale, rental, and repair.
The critical analysis emerging alongside the report's launch suggests that while the proposed levers offer a direction, the financial mechanisms and environmental accounting will be key areas for ongoing debate and refinement. The overarching question posed by some experts is whether the current trajectory, with its potential consumer costs and debated environmental gains, represents the most effective multi-billion-euro investment for Europe's textile future.
"The Textile Recycling Breakthrough" has undeniably ignited a crucial conversation, providing a data-rich foundation for the complex journey ahead. The challenge now lies in navigating the economic realities, refining the impact assessments, and fostering the multi-stakeholder collaboration essential to turn Europe's textile waste into a sustainable resource.
US holding company and owner of brands like The North Face, Timberland and Vans, VF Corp forecasts revenues in Q1, FY26 to decline between 3 per cent-5 per cent. The company expects adjusted operating loss to range between $110 million and $125 million, significantly higher than the average analyst estimate of a $73 million loss.
In FY25, VF Corp registered a 4 per cent decline in net sales to $9.5 billion as against $9.92 billion in the previous fiscal year.
Marking a significant improvement in profitability, the company’s operating profit increased to $303.77 million during the year as against an operating loss of $143.93 million in 2024.
Performance among its diverse brand portfolio remained mixed. Revenues of its brand The North Face increased by 1 per cent to $3.70 billion while revenues of the brand Vans declined by 16 per cent to $2.35 billion. Timberland’s revenue rose by 3 per cent to $1.61 billion, while Dickies’ turnover contracted by 12 per cent to $542.1 million.
Geographically, the Americas region struggled with a 7 per cent decrease, totaling $4.83 billion. EMEA (Europe, Middle East, and Africa) also saw a decline of 3 per cent, reaching $3.25 billion. The APAC (Asia-Pacific) region was more stable, posting a 1 per cent increase to $1.42 billion.
In Q4, FY25 which concluded on March 29, VF Corp. fell short of revenue estimates. Concerns over tariffs introduced by the Trump administration led many retailers to scale back orders, resulting in a 5 per cent decline in revenue to $2.14 billion, below analysts' projections of $2.18 billion. The company reported an operating loss of $73 million, though its adjusted operating profit was $22 million.
Bracken Darrell, President and CEO, VF Corp, states, the company’s sales in Q4 aligned with its forecasts and, excluding Vans, showed an increase over the previous year, primarily driven by The North Face and Timberland. The company is well positioned to deal with the increasing volatility in the macroeconomic environment. The actions it takes will enable brands to return to growth and VF to generate solid and sustainable value, he adds.
