VF plans rapid expansion in China

VF Corp, one of the largest apparel companies based in the United States, plans to expand its stores in China to 6,000 by 2017 from 2,300 now.

The company, which has brands such as North Face and Timberland, anticipates a 21 percent annual sales growth in the Chinese market in the next five years.

To better serve the Chinese market, the company will launch its largest distribution center in the Kunshan area of Suzhou, Jiangsu province, in 2013.

Aidan J. O'Meara, president of VF Asia-Pacific, said that China will continue to grow steadily, though the growth may not be as quick as the one seen in previous years.

The strong performance in the Chinese market is expected to secure the company's strong growth in the Asia-Pacific market. The company expects to generate $2 billion in revenue by 2017 from the Asia-Pacific region, an increase from the forecasted $900 million in 2012. China is expected to contribute 60 percent of the sales revenue in 2017.