PVH news and archive

Lego Group CFO Jesper Andersen joins PVH board of directors

PVH Corp. has announced the appointment of Jesper Andersen, executive vice president and chief financial officer of the Lego Group, to its board of directors. He has also been appointed to the board’s audit and risk management committee. Commenting on the new addition to the board, Stefan Larsson, PVH chief executive officer, said in a release:...

Fashion

On, Patagonia, Puma, PVH, Salomon test Carbios' fibre-to-fibre recycling technology

Just over two years ago, in July 2022, the four textile and footwear brands On, Patagonia, Puma and Salomon announced that they had joined forces with French biochemical company Carbios to utilise its unique biorecycling technology for synthetic fibre recycling and to improve the recyclability and ongoing reusability of their products. This...

Business

China probes US fashion group over 'unreasonable' Xinjiang boycott

China said Tuesday it was investigating US fashion group PVH Corp., which owns Tommy Hilfiger and Calvin Klein, for "unreasonably boycotting" cotton from its Xinjiang region, where Beijing is accused of widespread rights violations. The commerce ministry said PVH was suspected of "unreasonably boycotting Xinjiang cotton and other products......

Fashion |Marketing Featured

Calvin Klein hopes to go viral a second time with Jeremy Allen White campaign

Anyone following fashion accounts on Instagram or other social media channels will have seen new images of actor Jeremy Allen White fronting Calvin Klein underwear. The New York-based star is the face of the brand’s newest campaign as the global fashion season returns in force in September. Directed and shot by Mert Alas, the campaign shows...

BusinessFeatured

PVH Q2 sales drop but earnings beat estimates

Second quarter revenue at PVH of 2.074 billion dollars decreased 6 percent or 5 percent on a constant currency basis, including a 3 percent decline resulting from the sale of the Heritage Brands women’s intimates business. The company’s EBIT on a GAAP basis increased to 174 million dollars, while EBIT on a non-GAAP basis was 189 million dollars,...

People

Kate Gulliver joins PVH board of directors

PVH Corp. has appointed Kate Gulliver, chief financial officer and chief administrative officer at Wayfair Inc., to its board of directors, effective immediately. The company said in a statement that Gulliver has also been appointed to the board’s audit & risk management committee. Commenting on Gulliver’s appointment to the board, Stefan...

BusinessFeatured

PVH raises earnings outlook, announces departure of Tommy Hilfiger CEO

First quarter revenue at PVH decreased 10 percent or 9 percent on a constant currency basis to 1.952 billion dollars, which exceeded guidance of a decrease of approximately 11 percent or 10 percent on a constant currency basis. PVH also announced that Martijn Hagman, CEO of Tommy Hilfiger Global and PVH Europe, will be leaving the company. He...

Fashion |Opinion Featured

What's next for Calvin Klein?

This week, Calvin Klein announced Veronica Leoni as the new creative director for its mainline collection, which was temporarily shuttered in 2018 after the unceremonious exit of Raf Simons. It makes good commercial sense that parent PVH wants to rekindle the high-end line, but the group is not a luxury operator and will have to balance Leoni’s...

Business

PVH shares plunge after trading announcement

Tommy Hilfiger and Calvin Klein parent PVH Corp. experienced a significant 20 percent drop in its shares during late trading following the release of its full-year sales guidance, which failed to meet market expectations. The group anticipates a decline in revenue for the year by 6 to 7 percent, in contrast to a 2 percent increase recorded last...

BusinessFeatured

Tommy Hilfiger, Calvin Klein parent PVH projects weak outlook

PVH projects fiscal 2024 revenue to decrease 6 percent to 7 percent on current and constant exchange basis compared to 2023 , inclusive of a 2 percent reduction related to the sale of the Heritage Brands women’s intimates business and a 1 percent reduction from the 53rd week in 2023. First quarter revenue is also expected to decrease...

BusinessFeatured

The path forward: OECD perspectives on company-union agreements' role in shaping responsible business practices

During the Organisation for Economic Co-operation and Development (OECD) forum on due diligence in the garment and footwear sector, which took place in Paris from February 19 to 23, prominent experts delved into the potential of legally binding agreements voluntarily adopted by companies and global trade unions. Representatives from various...

BusinessFeatured

Hollywood, Skims and accountability: Top 11 US stories for 2023

There is no denying that 2023 has been a turbulent year for the US fashion market, as declining consumer confidence continued to take hold of the region and impact wider sales. No matter, while some large-scale conglomerates attempted to build up their defences through turnaround strategies, there were some positives for the industry, namely in...