VF Subsidiary Sets Up Napapijri® Joint Venture

A subsidiary of Greensboro, N.C.-based VF Corp. has established Napapijri Japan Co. Ltd., a
majority-owned joint venture with Tokyo-based Mitsui & Co. Ltd., to market and distribute the
Napapijri® brand of premium sportswear. VF Corp. has appointed Masato Fujino president of the
venture, which is headquartered in Tokyo.

The brand, acquired by VF Corp. in 2004 and sold to retail outlets mainly in Europe, was
previously sold in Japan through a distributor.

“Building a stronger presence in such important markets as Japan is a key part of continuing
the Napapijri brand’s strong momentum,” said Aidan O’Meara, president, VF Asia-Pacific.

“We are fortunate to have Mitsui as our partner, given their extensive reach and
well-established capabilities. At the same time, VF’s excellence in brand building and marketing
will enable the brand to reach its full potential in Japan.”

O’Meara added that the new company will grow with the opening of additional retail stores as
well as expanded distribution in department and specialty stores.

September/October 2007