Timberland, outdoor lifestyle footwear and apparel brand outlined a plan which will help its sales grow 13% annually through 2019.
At an investor meeting at its headquarters, Timberland said it plans to reach revenue of $3.1 billion by end of 2019, up from $1.7 billion it reported in 2013.
Timberland is owned by VF Corporation which has a diversified portfolio of 30 brands including; The North Face, Vans, Timberland, Wrangler, Lee and Nautica.
Over the next five years, Timberland expects substantial growth in each major geographic regions like Americas, EMEA and Asia Pacific.
This growth will be driven by industry leading innovation and product diversification; consistent channel discipline and meaningful expansion of its direct-to-consumer business.
Timberland said growth in the Americas will account for nearly 50% of $1.4 billion it hopes to generate in the next five years, representing an annual growth rate of 14 percent.
In EMEA (Europe/Middle East/Africa), Timberland expects to add $380 million to reach $1 billion in revenues in the region by 2019 at a rate of 10 percent per annum.
The Asia Pacific (APAC) region is expected to double its business, growing revenues by 15 percent annually to reach $620 million in the region by 2019.
Timberland informed that its growth over the next five years is expected to be balanced across both wholesale and direct-to-consumer channels.
Wholesale revenues are expected to grow by $825 million over the period to reach $2 billion, driven by a 13 percent annual growth rate in the Americas region, 8 percent growth in EMEA and 14 percent growth in the APAC region.
Direct-to-consumer revenues for Timberland are expected to reach $1.1 billion, representing an additional $570 million in sales, and an annual growth rate of 15 percent over the five-year period.
E-commerce is expected to be Timberland's highest percentage growth channel, increasing by 31 percent annually and adding $180 million in revenues over the next five years.
Timberland plans to expand its global retail store presence by adding 130 stores to its current base of approximately 230 stores.
Eric Wiseman, CEO at VF Corp said, "Since our acquisition in 2011, the Timberland team has created an incredibly strong foundation for its next chapter of growth and we are bullish on the opportunity".
