Vans’ parent company VF Corp announced on Friday that the brand's apparel and footwear sales rose 35 percent last quarter. According to a report by CNN Money, this was down to sales surging at wholesale retailers such as Nordstrom, Dick’s Sporting Goods, and Amazon.
Vans’ direct-to-consumer physical stores and digital outlets also performed well. These platforms are more profitable than wholesale retailers, which is good news for the skate brand.
Due to the strong quarter, Vans has updated its forecast for 2018 sales growth to 15 percent. Last year, Vans’ sales climbed 19 percent.
According to CNN Money, Vans has taken advantage of two major trends: athleisure and the demand for retro styles.
Matt Powell, a sports industry analyst at market research firm NPD Group, agrees. “People are wearing athletic apparel now for all kinds of occasions — work, play, and school — without any intention of using them for athletic purposes. The more casual, lifestyle categories have been on fire.”
Vans CEO Steven Rendle told analysts on Friday that his company wants to become a “top provider of active lifestyle footwear.”
For more, check out the CNN Money report here.
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