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Despite political and economic uncertainties across Europe, the firm is keen to expand the number of outlets: “We came from a wholesale background but are increasingly focusing on retail”.
Gibson won’t be drawn on exactly how many stores will open in the UK in the next few years, but reports: “We will judge each location according to the metrics of the brand. We’re looking at the strongest streets with the best footfall and it’s not just the volume, but the quality of the footfall. The decision is always made on what is right for the brand, not what’s right for real estate.
“We are prepared to wait for the right real estate at the right time because we believe that’s the key to success.”
Of VF’s 380 owner-operated stores across EMEA, 96 are in the UK, including 20 in London. The British capital, with its powerful mix of international and domestic tourists, as well as a vibrant residential consumer base, is top of VF’s watch list, though other UK cities are also in the frame.
Gibson comments: “We expect the UK customer to become even more discerning; if you show value to your customer they will keep coming back, and you do that through the best experience of stores, products and service”.
On the European mainland, cities like Amsterdam, Madrid and Barcelona are in VF’s sights and although brand uniformity is important, the company isn’t averse to tweaking formats to respond to local conditions. A good example is the recently opened Vans store in San Sebastian, Spain, which has been purposefully themed to appeal to the resident surfing community. Store appearances also vary according to climate, so, for example, those in the brighter, later-night shopping environment of Iberia will differ from those in cooler Nordic locations. “We assess new stores in a very meticulous way and compare across Europe. So we’ll look at the difference between, say, London, Paris and Barcelona or Bilbao and Bristol,” he explains.
Wherever the geographic location, VF is responding to an omnichannel marketplace by reconsidering the industry’s approach to store refits. The traditional cycle of totally refitting every five years is giving way to a constant process of evolution, as individual store elements are refreshed on a rolling basis in response to the latest trends. And when stores need to be repurposed, Gibson praises the increasingly collaborative attitude of landlords. He comments: “The most dynamic are on the same wavelength as retailers and many of their peers are coming around to that way of thinking”.
In a rapidly moving retail environment, one thing that Gibson is certain about is that bricks and mortar stores – of some size – will play an integral part in future shopping habits. He says: “There’s a misconception that you only have to showcase a small amount and then people will buy online.
“I think you still have to see the full line and offer the customer a fully immersive experience. Obviously, you can’t do that in every location, but that should be the guiding principle.”
The Brand New Man
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