NORTH FACE TO OPEN ITS EUROPEAN HQ IN LONDON

THE American owner of the outdoor clothing brand North Face has chosen London as the base for its new European headquarters.

VF Corporation, which also owns Timberland and Wrangler, has a tenyear lease on a building in Soho.

The New York-listed group is hoping that by choosing London as its hub, it will strengthen trade relationships and boost its expansion in the UK.

VF Corporation was founded in 1899 and is one of the world’s largest clothing and accessories companies.

Its brands are sold in more than 170 countries and it employs 70,000 staff. Outdoor brands such as North Face have proved a hit with younger shoppers willing to fork out up to £1,000 for an insulated jacket.

Revenues at VF Corporation climbed 7pc to £3.1bn ($3.9bn) in the three months to September 29 compared with a year earlier.

The popularity of its active wear and outdoor clothing has helped offset declining sales within its denim brands as younger consumers shun jeans in favour of tracksuit bottoms and leggings.