North Face 2008 Annual Report Download - page 8

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Strength
Size and strength were once synonymous. But as recent events
have taught us, that’s no longer true. So while we’re proud
that so many people know us as the “world’s largest apparel
company,” there’s really so much more that makes VF strong.
Like our ability to connect globally with consumers. Our
adaptability to fast-changing markets and opportunities.
And our discipline for balancing risk and reward. During
2008, we combined these qualities to deliver excellent results
in the face of extraordinary challenges—and that’s the best
definition of strength that we know.
(opposite)
Bob Shearer
Senior Vice President & Chief Financial Officer
“At VF, we take nothing for granted. We keep our costs and
inventories low, plan conservatively and keep our balance
sheet strong. It’s a discipline that’s embedded in our culture—
and that’s giving us a competitive advantage in these very
difficult times.”
Karl Heinz Salzburger
President—VF International
“We have some of the best-known brands in the world. But we
still have great potential for international growth. We’re leveraging
our global infrastructure to continue to extend our reach across
Europe, while investing heavily to capitalize on opportunities
in large and growing markets like China.”
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