VFC is moving its operations for the region, including its brand operations and its product supply hub, out of Hong Kong to Shanghai and Singapore, respectively, in a 12- to 18-month-long transition beginning in Apr. 2021. It already has a substantial presence in Shanghai, employing about 900 office and retail staff, and moving its regional headquarters there is intended to locate the company closer to the increasingly important Chinese consumer. VF will move various back-office functions out of China entirely, to a planned shared services center in Kuala Lumpur, Malaysia, including digital technology, finance, human resources, and logistics.
Exiting Hong Kong ... Log in to view full article.