FILE - This Aug. 11, 2010, file photo, shows shoes at the research and development room of Timberland Company in Stratham, N.H. VF Corp. says it plans...
FILE - This Aug. 11, 2010, file photo, shows shoes at the research and development room of Timberland Company in Stratham, N.H. VF Corp. says it plans to split into two publicly traded companies, with one focusing on clothing and footwear and the other concentrating on jeans and its outlet businesses. VF Corp., which is honing in on activity-based outdoor, active and work lifestyles, previously sold the Nautica brand and purchased the Altra, Icebreaker and Williamson-Dickie brands. Some of its other brands include The North Face, Timberland and Wrangler. (AP Photo/Jim Cole, File)
GREENSBORO, N.C. (AP) — The clothing company that makes Wrangler and Lee jeans is breaking off its denim division, which could generate as much as $2.5 billion in revenue each year.
VF Corp. said Monday that it wants to focus on its money-making active and outwear business. It owns The North Face and Timberland, and it's acquired the Altra, Icebreaker and Williamson-Dickie brands.
The outdoor division will move from North Carolina to the Denver area in next year. The new, yet-to-be-named company that operates the denim and also its outlet businesses will remain in Greensboro, North Carolina.
The separation is expected to be completed in the first half of next year. It still needs final approval from board members.