Only one week after Engaged Capital set its sights on VF Corp., a second activist investor, Los Angeles-based Legion Partners, has acquired an undisclosed stake in the company and wants it to divest brands such as Timberland, Bloomberg reported, citing sources familiar with the matter.
VF just named former Nike President Trevor Edwards as a Director, an experienced executive specialized in DTC strategies and investments and the company’s third new hire in the last 18 months.
The group reports early milestones in waste reduction, regenerative sourcing and community impact.
VF Corp is channeling proceeds from recent brand divestments toward debt reduction.
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