VF Corporation (VF), the parent company of the popular workwear brand Dickies, announced on November 21 that it will relocate the brand’s headquarters from Fort Worth, Texas, to Costa Mesa, California. This move is part of VF’s broader strategy to streamline its U.S. real estate portfolio as it works on its business turnaround.
Ashley McCormack, VF’s director of external communications, explained that the relocation would allow the company to consolidate its operations, including sharing workspace with other VF brands at the Costa Mesa headquarters. The relocation is expected to be completed by May 2025.
In its second-quarter earnings report, VF Corporation reported a revenue of $2.8 billion, marking a 6% decline compared to the previous year. The company, which also owns brands like Vans and The North Face, has seen a slowdown in sales across its portfolio.
VF Corporation acquired Dickies in 2017 for $820 million in cash, along with other workwear brands such as Workrite, Kodiak, Terra, and Walls.
The decision to move Dickies to California contrasts with a broader trend of businesses leaving the state. Since 2005, over 230 companies have relocated out of California, with many heading to Texas, drawn by a business-friendly environment and lower operational costs. Despite this exodus, California remains a global hub for innovation, particularly in the startup sector. Companies like Uber, Snapchat, Robinhood, and OpenAI have made significant impacts on industries such as transportation, social media, finance, and artificial intelligence.
In 2022, the tech sector contributed a significant $623.4 billion to California’s economy, according to the California Chamber of Commerce, solidifying the state’s continued economic importance despite the challenges faced by some businesses.
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