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 has appointed Masato Fujino president of the Tokyo-based

The brand, acquired by VF 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 with expanded distribution in department and specialty stores.

September/October 2007