Monday, October 03, 2005

Wilmington, N.C. - VF Corporation, headquartered in Greensboro, NC, may be one of the most quietly successful companies in the world. While many people have never heard of the company by name, they are well aware of its strong brands in the apparel industry.

Mackey McDonald, chairman, CEO and president of the company, told students and faculty of University of North Carolina Wilmington Cameron School of Business last week that the company’s relative anonymity is by design. “We focus on building apparel brands, not on building a corporate reputation,” he said. “We’re all about connecting brands with consumers. That’s what drives our success.”

McDonald spoke to a packed house on Sept. 26 in Cameron Auditorium as this year’s guest of the RBC Centura Executive Speaker Series. He was introduced by Sandra Spiers, commercial banker/market executive from RBC Centura in Wilmington.

McDonald gave the audience a quick overview of his company, which is the largest apparel company in the world and has $6 billion in annual sales. It is the parent company of well-known brands such as Lee, Wrangler, Vanity Fair, JanSport, Nautica, The North Face, Vans and Reef.

McDonald said companies in the apparel industry are dealing with significant challenges as the industry is consolidating and consumers are demanding both increased uniqueness and greater value in the products they buy. He noted this is a positive for new business graduates.

“Companies are changing at such a rapid pace that there are tremendous opportunities for young people,” he said. “They’re bringing in new people who have new ideas and who are going to help them build a better and stronger relationship with the consumer.”

The Executive Speaker Series has been in existence for about 15 years. This is the first year it has been sponsored. RBC Centura has made a three-year commitment to sponsor and are providing the CSB with $5,000 per year for the sponsorship. The money is used to pay for a luncheon with students that the speaker attends after the presentation and in support of other outreach activities.

Previous speakers who have come to the CSB as part of the series include Rick Wagoner, CEO of General Motors, Jack Walsh, Roush Enterprises (NASCAR racing team), L.M. "Bud" Baker Jr., then chairman of the board of Wachovia Corp., Fred Eshelman of PPD and Stedman Graham, CEO of S. Graham & Associates.

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