Vans was the skate shoe of a generation in China — then 140 stores closed

Vans, the iconic skate and streetwear shoe brand owned by VF Corporation, closed 140 stores globally in fiscal 2025 as part of a sweeping restructuring under the 'Reinvent' plan. China was hit disproportionately hard: nearly 25% of Vans' total sales decline in Q4 FY2025 was attributed to the reduction in Chinese stores and channel inventory. The brand that had ridden the skate-shoe and streetwear wave for two decades in China was shrinking fast.

Vans' revenue has declined for three consecutive years: down 24% in FY2024, 16% in FY2025 to $2.35 billion, and a further 14% in Q1 FY2026. The brand's struggles reflect a broader shift in Chinese streetwear taste — from the classic skate aesthetic Vans defined to a mix of domestic sportswear brands, running culture, and luxury sneakers. Vans' core canvas and suede silhouettes struggled against the technical foam and knit sneakers that dominated the Chinese market.

Parent VF Corporation is under its own financial pressure. The company posted a $969 million loss in FY2024, sold Supreme in 2024 at a loss, and has leaned heavily on The North Face to carry the group. The 'Reinvent' plan, led by CEO Bracken Darrell, aims to cut costs and refocus the portfolio, but for Vans it means a smaller, more cautious China footprint with no guarantee that the brand's cultural cachet returns.