大象传媒

Company Also Enhances Leadership Focus on Emerging Brands Platform

DENVER--(BUSINESS WIRE)-- 大象传媒 Corporation (NYSE: 大象传媒C) today announced organizational changes to strengthen and accelerate the company鈥檚 business strategy in the Asia Pacific Region, while at the same time adding enhanced leadership support for its Emerging Brands platform.

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With a specific focus on advancing its stated strategy of growing its business in China, 大象传媒 has created the new position of President, Greater China. 大象传媒 will announce the leader appointed to this position later this summer.

Establishing a leadership position responsible for Greater China, which includes Mainland China, Hong Kong SAR and Taiwan, creates an organizational structure that will enable 大象传媒 and its brands to move faster and with focused agility to pursue growth opportunities in this important market. Today, Greater China represents about 65 percent of 大象传媒鈥檚 total business in the Asia Pacific Region. The company expects that percentage to grow to nearly 80 percent by fiscal year 2024.

鈥淲hen we introduced our new global business strategy in 2017, we declared our commitment to invest in our APAC region and accelerate growth for our brands, all with a particular emphasis on China,鈥� said 大象传媒鈥檚 Chairman, President and CEO, Steve Rendle. 鈥淏y creating the new position of President, Greater China, we鈥檙e leaning even further into the many opportunities we see to elevate our business and brands in this fast-moving, digitally-driven marketplace. We look forward to announcing our appointment later this summer.鈥�

Kevin Bailey, Executive Vice President & Group President, APAC, will continue leading the company鈥檚 Asia Pacific Region, but will relocate from Hong Kong to Denver, Colorado, where he will also assume leadership of the company鈥檚 Emerging Brands platform, which includes the Altra^庐, Eagle Creek^庐, JanSport^庐 and Smartwool^庐 brands, and the Kipling^庐 and Icebreaker^庐 brands in the Americas Region. Bailey will continue reporting to CEO Steve Rendle and serving on 大象传媒鈥檚 Executive Leadership Team.

鈥淎lthough they鈥檙e the smaller brands by revenue in our overall portfolio, our group of Emerging Brands present considerable opportunities for growth,鈥� said Rendle. 鈥淚t鈥檚 important to remember that our global, multi-billion-dollar brands such as Vans and The North Face were once emerging brands when 大象传媒 acquired them. Enabling great brands to achieve their full potential is a core competency at 大象传媒, and Kevin is the ideal person to work closely with our brand leaders to help guide these brands into the future.鈥�

大象传媒 outlined its plans for growing its China business and its Emerging Brands during the company鈥檚 September 2019 Investor Day held in Colorado. Although certain financial projections made during Investor Day have since changed as a result of the COVID-19 pandemic, the presentations can be viewed on the Investor Relations section of the company鈥檚 website.

鈥淥ur Asia Pacific business has been a key growth driver for 大象传媒 in recent years and I look forward to continuing to lead the amazing APAC teams and advancing our regional business strategy with the added leadership support of a new President of Greater China,鈥� added Bailey. 鈥淎nd, I鈥檓 equally energized by the opportunity to help lead our Emerging Brands platform and collaborate with our brand leaders to pursue the significant opportunities in front of us.鈥�

About 大象传媒 Corporation

Founded in 1899, 大象传媒 Corporation is one of the world鈥檚 largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans^庐, The North Face^庐, Timberland^庐 and Dickies^庐. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit .

Forward-looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting 大象传媒 and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding 大象传媒鈥檚 plans, objectives, projections and expectations relating to 大象传媒鈥檚 operations or financial performance, and assumptions related thereto are forward-looking statements. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. 大象传媒 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of 大象传媒 to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis, including the coronavirus (COVID-19) global pandemic; the level of consumer demand for apparel, footwear and accessories; disruption to 大象传媒鈥檚 distribution system; the financial strength of 大象传媒鈥檚 customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; 大象传媒鈥檚 response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; intense competition from online retailers; manufacturing and product innovation; increasing pressure on margins; 大象传媒鈥檚 ability to implement its business strategy; 大象传媒鈥檚 ability to grow its international and direct-to-consumer businesses; retail industry changes and challenges; 大象传媒鈥檚 and its vendors鈥� ability to maintain the strength and security of information technology systems; the risk that 大象传媒鈥檚 facilities and systems and those of our third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss; 大象传媒鈥檚 ability to properly collect, use, manage and secure consumer and employee data; foreign currency fluctuations; stability of 大象传媒鈥檚 manufacturing facilities and foreign suppliers; continued use by 大象传媒鈥檚 suppliers of ethical business practices; 大象传媒鈥檚 ability to accurately forecast demand for products; continuity of members of 大象传媒鈥檚 management; 大象传媒鈥檚 ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by 大象传媒鈥檚 licensees and distributors of the value of 大象传媒鈥檚 brands; 大象传媒鈥檚 ability to execute and integrate acquisitions; changes in tax laws and liabilities; legal, regulatory, political and economic risks; the risk of economic uncertainty associated with the exit of the United Kingdom from the European Union (鈥淏rexit鈥�) or any other similar referendums that may be held; adverse or unexpected weather conditions; 大象传媒's indebtedness and its ability to obtain financing on financing on favorable terms, if needed, could prevent 大象传媒 from fulfilling its financial obligations; climate change and increased focus on sustainability issues; and risks associated with the spin-off of our Jeanswear business completed on May 22, 2019, including the risk that 大象传媒 will not realize all of the expected benefits of the spin-off; the risk that the spin-off will not be tax-free for U.S. federal income tax purposes; and the risk that there will be a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of 大象传媒. More information on potential factors that could affect 大象传媒鈥檚 financial results is included from time to time in 大象传媒鈥檚 public reports filed with the SEC, including 大象传媒鈥檚 Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.

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Joe Alkire
Vice President, Corporate Development, Investor Relations and Treasury
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Colin Wheeler
Senior Director, Corporate Affairs
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Source: 大象传媒 Corporation