Timberland LLC, a subsidiary of VF Corporation, is an American company renowned for its production and retail of outdoor footwear, apparel, and accessories. With its corporate headquarters situated in Stratham, New Hampshire, Timberland has established itself as a prominent manufacturer and retailer in the industry.
History:
In 1928, Nathan Swartz, a Russian-American shoemaker, embarked on his journey in the footwear industry by working as a stitcher in Boston, Massachusetts. Coming from a long line of cobblers, Swartz’s family had migrated to the United States just before the onset of the First World War.
A few years later, in 1933, the Abington Shoe Company was established a short distance away in South Boston. Impressed by the exceptional quality of their products, Swartz was drawn to this local business.
Recognizing the potential and value of Abington, Swartz seized the opportunity and acquired a 50% stake in the company in 1952. With his sons Herman and Sidney joining him, Swartz gradually increased his ownership, eventually purchasing the remaining interest in Abington by 1955.
This acquisition marked a significant milestone for the company and laid the foundation for what would later become known as Timberland. The Swartz family’s dedication to craftsmanship and their vision for creating enduring footwear would shape the future of the brand.
In 1968, Nathan Swartz achieved the milestone of retirement, passing the torch of leadership to his son, Herman. With this transition, the company’s operations seamlessly continued under the capable stewardship of the Swartz family’s next generation.
In 1973, the Swartz family’s revolutionary manufacturing process resulted in a significant breakthrough. This innovative technique not only accelerated production but also elevated the waterproof capabilities of Abington’s boots, surpassing anything else available in the market.
Building upon this technological advancement, the Timberland boot was introduced as a fully waterproof leather boot, propelling the company to unprecedented success.
The overwhelming response to the boot’s performance and design compelled the Swartz family to redirect their efforts from manufacturing for other brands to an exclusive focus on expanding their own.
This strategic shift laid the groundwork for Timberland’s remarkable journey towards becoming a dominant force in the industry.
As a result, the Abington Shoe Company underwent a significant transformation and was renamed The Timberland Company in 1978. This rebranding reflected their commitment to establishing Timberland as a distinctive and independent brand in the market.
In 1986, Jeffrey Swartz, the grandson of founder Nathan Swartz, became an integral part of the company, joining its ranks. Timberland was purchased by his brother, Sidney Swartz. Swartz family made a significant decision to take the company public in 1987, marking a notable milestone in Timberland’s history.
Prior to this, Herman Swartz, the son of Nathan Swartz, had been at the helm of the company, leading it with great dedication until his retirement in 1986.
Following the retirement of Sidney Swartz in 1998, his brother Jeffrey Swartz assumed the role of Chief Executive Officer (CEO) of the company. Jeffrey’s leadership ushered Timberland into a new era of growth and innovation.
In June 2011, Timberland reached a significant milestone when it signed a definitive takeover agreement with VF Corporation. The agreement entailed a per-share value of $43, amounting to approximately $2 billion.
This strategic move brought Timberland under the umbrella of VF Corporation, further expanding its global presence and providing new opportunities for the brand.
