Part Of VF Corp. Moving To Revolution Mill In Greensboro

GREENSBORO (WFMY) - VF Corporation has selected Greensboro’s Revolution Mill as the new home for parts of its Jeanswear business. In August, VF announced it was creating an independent, publicly traded company, currently called 'NewCo,' which comprises VF's Jeans brands including Wrangler and Lee.

VF has signed a five-year lease with Revolution Mill. Around 125 U.S. NewCo employees will move into the 43,000 square-foot space in the former textile mill beginning in March 2019. 

“We are making great progress in our work to establish the Jeanswear business as its own publicly traded company, and today’s announcement is another important milestone as we move toward the separation in the first half of 2019,” said Steve Rendle, VF’s Chairman, President and CEO. “Revolution Mill is a historical property that honors the Greensboro community’s storied textile heritage. It’s only fitting that our Jeanswear organization will locate select functions there and help to continue the rich history and legacy of the Revolution Mill campus.”

In August, VF announced it's moving its global headquarters from Greensboro to Denver. The Denver headquarters will also become home to VF brands such as The North Face, JanSport, Smartwool, Altra and Eagle Creek.

The official name of NewCo will be announced by the end of 2018. NewCo will employ approximately 25,000 employees globally.

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VF spinoff taps Wrangler building for HQ, but some functions are bound for Revolution Mill

The jeanswear spinoff company of VF Corp., temporarily named "NewCo," will move certain functions into 43,000 square feet at Revolution Mill in Greensboro. 

VF made the announcement Thursday.

NewCo will be a publicly traded company consisting of the Lee, Wrangler and Outlet brands. VF announced the spinoff in August, when it also announced it would be moving its global headquarters from Greensboro to Denver. 

The jeanswear company will have its headquarters at 400 N. Elm St., the current home of the Wrangler brand, VF said. 

The company signed a five-year lease at Revolution Mill – a former textile mill north of downtown Greensboro owned and redeveloped into a mixed-use complex by nonprofit community development organization Self-Help. 

The anticipated move-in timeframe is March 2019. 

NewCo will put merchandising, design and product development and innovation functions in the space that will house 125 NewCo employees. 

Triad Business Journal previously reported that there have been rumors that VF was considering locating functions in the mill complex. 

VF said minimal upfits are needed. 

"As we begin our NewCo journey, Revolution Mill is the ideal space to create an inspiring, creative working environment for our employees," said Scott Baxter, the appointed CEO of NewCo. "We're excited about what this space will offer our employees and brands, and we look forward to joining the vibrant community that exists on the Revolution Mill campus."

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