Napapijri in VF Corporation stable

The VF Corporation has signed an agreement for the acquisition of Aosta-based Green Sport Monte Bianco SpA, which produces and sells sportswear clothing under the Napapijri label. The company's sales totaled 76 million dollars in 2003, an 18% increase compared to 2002.

Almost 80% of Green Sport Monte Bianco sales are in Europe. The company, present in multibrand stores worldwide, has three wholly-owned outlets in Paris, Milan and Chamonix, as well as various franchised stores in Europe. Sales of products with the Napapijri label are evenly distributed over sportswear stores, department stores and 'urban lifestyle' outlets.

'We are very pleased to add the Napapijri brand to our group of Outdoor and Sportswear companies, a sector that is constantly growing', declared VF's president and Ceo, Mackey J. McDonald. 'The acquisition is without doubt in tune with our objective of inserting rapidly-growing brands in the sectors of the market of special interest.'

Giuliana Rosset, Ceo of Green Sport Monte Bianco, added: 'VF is a large company with the resources and global presence required to give the Napapijri brand significant growth.'

'We see an opportunity for constant two-figure growth for the Napapijri brand both in Europe and in the Usa', commented Eric Wiseman, Vice President of the VF Corporation and President of the Sports and Outdoor Clothing sector. 'With Giuliana at the company's helm we are anxious to use Napapijri's enormous design know-how to consolidate our sportswear platform in Europe by promoting further growth of The North Face brand and by contributing to the European launch of the Nautica brand. At the same time, thanks to VF's already consolidated presence in Europe, we can support future sales growth and guarantee an efficient corporate model.'