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PVH Corp.

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PVH Corp.
FormerlyPhillips-Van Heusen Corporation (until 2011)
Company typePublic company
IndustryClothing
Founded1881;143 years ago(1881)
Founders
  • Moses Phillips
  • John Van Heusen
  • Dramin Jones
Headquarters
Manhattan, New York City
,
United States
Area served
Worldwide
Key people
Stefan Larsson(CEO)
ProductsApparel,undergarment,watches,etc.
ServicesManufacturing and retailing
RevenueUS$9 billion(2022)
US$200 million(2022)
Number of employees
c. 120,000(2023)
Divisions
Websitewww.pvh.com
Footnotes / references
[1]

PVH Corp.,formerly known as thePhillips-Van Heusen Corporation,is an American clothing company which owns brands such asTommy Hilfiger,Calvin Klein,Warner's, Olga andTrue & Co.The company also licenses brands such asKenneth Cole New YorkandMichael Kors.[2]PVHis partly named afterDutchimmigrant John Manningvan Heusen,who in 1910 invented a new process that fused cloth on a curve.[3]

Organization[edit]

PVH is headquartered inManhattanNew York,[4]with policy-making offices inBridgewater, New Jerseyand handling plants inReading, Pennsylvania,Jonesville, North Carolina,andMcDonough, Georgiaall in the United States.[5]

In September 2020,PVHannounced thatStefan Larssonwas namedCEOon February 1, 2021, succeedingEmanuel Chirico,who remains as chairman.[6]

As of April 2023, globally,PVHhad over 120,000 employees and was positioned inIndia,Sri Lanka,Bangladesh,China,Hong Kong,Philippines,Indonesia,Mongolia,Thailand,Malaysia,Taiwan,Singapore,VietnamandHonduras.[5]

History[edit]

Trade Names and Early Mergers[edit]

The history of Phillips-Van Heusen (PVH) goes back in part to Dramin Jones, aPrussianimmigrant who founded the shirt manufacturing company D. Jones & Sons, c. 1865.[7]Separately, in 1881, Moses Phillips and his wife Endel began sewing shirts by hand and selling them from pushcarts to local anthracite coal-miners inPottsville, Pennsylvania.This grew into a shirt business in New York City that placed one of the first ever shirt advertisements in theSaturday Evening Post.D. Jones & Sons merged with M. Phillips & Sons in 1907 under the name Phillips-Jones[8]after Dramin Jones's death in 1903. Later Isaac Phillips met John Van Heusen, resulting both in their most popular line of shirts (Van Heusen), and in the subsequent acquisition of Van Heusen by Phillips-Jones and its renaming to Phillips-Van Heusen in 1957.[9]In 2011, Phillips-Van Heusen was renamed toPVH.[10]

Acquisitions and Divestitures[edit]

The Phillips-Jones Corporation received a patent for a self-folding collar in 1919; the corporation released the product to the public in 1921 and it became successful. The first collar-attached shirt was introduced in 1929. The Bass Weejun was introduced in 1936. Geoffrey Beene shirts were launched in 1982. In 1987, Phillips-Van Heusen acquired G. H. Bass. In 1995, the corporation acquired theIzodbrand, followed by the Arrow brand in 2000, and theCalvin Kleincompany in 2002.[11]In 2004,PVHbegan manufacturing clothing for the Donald J. Trump Signature Collection as part of a licensing agreement withDonald Trump.[12]

After acquiring Superba, Inc., in January 2007,PVHnow ownsnecktielicenses for brands such as Arrow,DKNY,Tommy Hilfiger,Nautica,Perry Ellis,Ted Baker,Michael Kors,JOE Joseph Abboud,Original PenguinandJones New York.[13]The corporation began making men's clothing under theTimberlandname in 2008, with women's clothing following in 2009, under a licensing agreement.[14]

On March 15, 2010, Phillips-Van Heusen acquiredTommy Hilfigerfor $3 billion.[15]In the third quarter of 2010 losses made on the "Van Heusen" brand led to the decision to pull it out of all European trading markets. As of March 2011the company sells no products under that name in Europe. All European staff became redundant as a result.

In February 2013,PVHacquiredWarnaco Group,which manufactured the Calvin Klein underwear, jeans and sportswear lines under license, thus consolidating control of the Calvin Klein brand. The Warnaco acquisition also added the Warner's and Olga intimate apparel brands, as well theSpeedoswimwear brand (the latter in North America only). In November 2013PVHsold the G.H. Bass brand and all of its assets, images and licenses toG-III Apparel Group.[16]

PVHended its licensing agreement with Trump in July 2015, afterMacy'sdiscontinued sales of his Trump Signature Collection due to controversial comments that he made regarding undocumented immigrants.[12]

In 2017ForbesrankedPVH,25 out of 890 companies on the "Just company" list.[17]

In March 2017,PVHacquired lingerie brandTrue & Co.[18]

In June 2018,PVHacquired theGeoffrey Beeneclothing brand, whichPVHpreviously produced under license.[19]On August 28, 2018,PVHannounced that it would expand the Izod brand to portions of Europe beginning with the Fall/Winter 2018 collection.[20]

In January 2020, PVH sold back the rights for the Speedo swimwear brand, previously marketed under "Speedo USA" and "Speedo North America", back to Speedo's international parent, the BritishPentland Groupfor $170 million.[21]

In May 2021, it was reported thatPVHwas exploring a sale of the Heritage Brands division consisting of Van Heusen, Izod, Arrow, Warner's, Olga, True & Co., and Geoffrey Beene, withAuthentic Brands Groupas a potential buyer.[22]The sale to ABG was officially announced on June 23, 2021, consisting of Izod, Van Heusen, Arrow, and Geoffrey Beene.[23]The sale closed on August 2, 2021. Under Authentic Brands Group, United Legwear & Apparel Company was granted the license for the Van Heusen, Arrow, and Geoffrey Beene brands, while Centric Brands was granted the license for the Izod brand.

Distribution[edit]

PVHprovides products to many popular department stores, such asJCPenney,Macy's,Myer,David Jones,Kohl's,BelkandDillard'sas well as online retailerAmazonboth through its own labels andprivate labelagreements.PVHalso sells its products directly to customers through about 700outlet storesunder the brand namesVan Heusen,Tommy HilfigerandCalvin Klein.[citation needed]

The Calvin Klein stores sell the full range of products at full price, differing from existing outlet stores. These stores range from 10,000 square feet (930 m2) to 20,000 square feet (1,900 m2).[24]

The brands are sold in different price segments; for the dresswear and business-casual brands, from lowest to highest priced are Arrow, Van Heusen, Geoffrey Beene, Pierre Cardin and Calvin Klein. For thepreppy-styled brands,Izodoccupies a more moderate price range while Tommy Hilfiger occupies a more premium segment.

Phillips-Van Heusen closed its Geoffrey Beene outlet retail division in 2008. Approximately 25 percent of the Geoffrey Beene outlet stores became Calvin Klein stores, while the remaining 75 percent of stores closed entirely.[25][24]The company continued to license the Geoffrey Beene brand name for Geoffrey Beene brand dress shirts and men's sportswear until 2018 when it acquired the brand outright. In 2015,PVHclosed its Izod retail division due to an increasing competitive environment driven by more premium brands in the outlet retail channel; this did not affect Izod's wholesale business to department stores and online retailers. SelectIzodproducts are now available at some Van Heusen stores; initially this only included the golf line, but now includes products from Izod's other lines (mostly from the Advantage and Saltwater lines). In July 2018,PVHlaunched a direct online sales platform on the Izod and Van Heusen websites where both brands are featured and can be cross-shopped on each other's site. On July 14, 2020,PVHannounced that it would close its remaining Heritage Brands retail outlets operating mainly under the Van Heusen/Izod Golf names.[26]TheIzodand Van Heusen brands are not being discontinued; the wholesale business, which sells their product to department stores, warehouse clubs, and online retailers, is not affected. The direct online sales platform for the Izod and Van Heusen brands will also remain active.

Marketing[edit]

In October 2007,PVHtook over naming rights to theMeadowlands Sports Complexarena inEast Rutherford,New Jersey.The arena's name was changed to theIzod Center,and the change became effective on October 31, 2007.PVHpaid about $1.4 million a year for two years, then paid $750,000 a year and included the arena employeesIzoduniforms.[27]In 2015, theIzodCenter was permanently closed.[28]

In July 2022,PVHannounced the creation of a first sustainable supply chain finance program, in partnership withHSBC Bank USA.[29]

Controversy[edit]

Environmental Practices[edit]

In July 2011,PVH—along with other major fashion andsportswearbrands includingNike,AdidasandAbercrombie & Fitch—was the subject of a report by the environmental groupGreenpeaceentitled "Dirty Laundry".PVHis accused of working with suppliers inChinawho, according to the findings of the report, contribute to the pollution of theYangtzeandPearl Rivers.Samples taken from one facility belonging to theYoungor Grouplocated on theYangtze River Deltaand another belonging to the Well Dyeing Factory Ltd. located on a tributary of thePearl River Deltarevealed the presence of hazardous and persistenthormone disruptorchemicals, includingalkylphenols,perfluorinated compounds,andperfluorooctane sulfonate.[30]

In 2020,PVHannounced for its sustainability policy for its Izod and Van Heusen brands to eliminate single use plastic from packaging by 2024, and use 100% sustainablecotton,polyester,and nylon by 2025.[31]

Use of Animals[edit]

Concerns have also arisen aboutPVH's practices with regards to animal testing.[32]

In 2020,PVHannounced that as part of their animal welfare policy, the company does not use exotic skins and would be banning their use inTommy HilfigerandCalvin Kleincollections when "our annual update of that policy is released."[33]

See also[edit]

References[edit]

  1. ^"2022 Year in Review"(PDF).PVH.Archived(PDF)from the original on 2023-10-31.Retrieved2023-12-07.
  2. ^"PVH Corp (PVH)".Reuters.Archivedfrom the original on June 22, 2019.RetrievedJune 22,2019.
  3. ^"Our Timeline".Archived fromthe originalon 2020-06-23.Retrieved2017-10-31.
  4. ^Kim, Betsy (May 6, 2019)."Tommy Hilfiger Expands to 220,000 SF at 285 Madison Ave".Globest.com.Archivedfrom the original on July 19, 2020.RetrievedJune 23,2019.
  5. ^abJawayria, A (April 10, 2014)."Phillip Van Heusen".Prezi.Archivedfrom the original on June 23, 2019.RetrievedJune 23,2019.
  6. ^"PVH Appoints New CEO | SGB Media Online".sgbonline.com.30 September 2020.Archivedfrom the original on 2020-10-30.Retrieved2020-10-01.
  7. ^The Clothier and Furnisher.1906. p. 76.Archivedfrom the original on 2023-12-29.Retrieved2020-09-16.(...) D. Jones & Sons, shirt manufacturers, which house was established by his father, the late Dramin Jones, nearly half a century ago
  8. ^Apparel Arts.Apparel Arts Publications. 1949. p. 138.Archivedfrom the original on 2023-12-29.Retrieved2020-09-16.The company continued as M. Phillips & Sons until 1907 when it merged with D. Jones & Sons to become the Phillips-Jones Co
  9. ^Marsh, Lisa (2004-05-04).The House of Klein: Fashion, Controversy, and a Business Obsession.John Wiley & Sons. p. 179.ISBN9780471478959.Archivedfrom the original on 2023-12-29.Retrieved2020-09-16.
  10. ^"Phillips-Van Heusen Changes Name | News | Consumer Goods Technology".consumergoods.com.Archivedfrom the original on 2017-08-18.Retrieved2017-08-18.
  11. ^"Our Company:: History".Archived fromthe originalon 2008-02-23.Retrieved2008-03-14.
  12. ^abO'Connor, Clare (2015-07-07)."PVH Corp., Clothing Giant Behind Trump Menswear Brand, Dumps The Donald".Forbes.Archivedfrom the original on 2017-04-08.Retrieved2017-04-14.
  13. ^"Phillips-Van Heusen Corp (PVH) Full Description".Reuters.Archived fromthe originalon January 2, 2008.Retrieved2008-03-14.
  14. ^Duprey, Rich (2007)."Foolish Forecast: Phillips-Van Heusen Buttons Up".The Motley Fool. Archived fromthe originalon January 2, 2008.Retrieved2008-03-14.
  15. ^Andrew Ross Sorkin; Michael J. de la Merced (15 March 2010)."Phillips-Van Heusen Buys Hilfiger for $3 Billion".New York Times.Archivedfrom the original on 30 September 2019.Retrieved25 February2017.
  16. ^"PVH Corp. and G-III Apparel Group, Ltd. Complete Sale of G.H. Bass & Co. Business".PVH.November 4, 2013. Archived fromthe originalon April 16, 2016.RetrievedJune 2,2016.
  17. ^"#1156 PVH".Forbes.May 15, 2019.Archivedfrom the original on May 24, 2012.RetrievedJune 23,2019.
  18. ^"Bra startup True&Co sold to Calvin Klein owner PVH".TechCrunch.March 16, 2017.Archivedfrom the original on June 26, 2018.RetrievedJune 25,2018.
  19. ^"PVH Acquires Geoffrey Beene Brand".PVH.June 14, 2018. Archived fromthe originalon June 26, 2018.RetrievedJune 25,2018.
  20. ^"PVH Corp. Expands Global Footprint, with Launch of Iconic American Brand IZOD in Europe".Business Wire.August 28, 2018.Archivedfrom the original on August 29, 2018.RetrievedAugust 28,2018.
  21. ^"Speedo International Parent Company Buys Speedo North America for $170 Million".SwimSwam.2020-01-09.Archivedfrom the original on 2020-07-18.Retrieved2020-01-10.
  22. ^"Authentic Brands Files for IPO Confidentially: Sources".Yahoo Sports.May 26, 2021.Archivedfrom the original on August 3, 2021.RetrievedMay 28,2021.
  23. ^"PVH to sell Izod, Van Heusen and other labels to Authentic Brands in $220 million deal".MarketWatch.June 23, 2021.Archivedfrom the original on June 23, 2021.RetrievedJune 23,2021.
  24. ^abWeisman, Katie (September 8, 2008)."The bigger, the better when it comes to luxury stores".New York Times.Archivedfrom the original on June 23, 2019.RetrievedJune 23,2019.
  25. ^Geller, Martinne; Sivaraman, Aarthi; Wallace, John (May 28, 2008)."UPDATE 1-Phillips-Van Heusen closing Geoffrey Beene outlets".Reuters.Archivedfrom the original on June 23, 2019.RetrievedJune 23,2019.
  26. ^"Outlet mall staple is closing all of its stores".CNN News.July 14, 2020.Archivedfrom the original on July 15, 2020.RetrievedJuly 15,2020.
  27. ^"Fashionable New Name for Arena".New York Times.October 5, 2019.Archivedfrom the original on October 13, 2007.RetrievedJune 23,2019.
  28. ^Sherman, Ted (January 15, 2015)."It's official: Izod Center to close by end of month".NJ.com.Archivedfrom the original on June 23, 2019.RetrievedJune 23,2019.
  29. ^"HSBC and PVH Corp. Partner on First Sustainable Supply Chain Finance Program Tied to Environmental and Social Factors".Business Wire.29 June 2022.Archivedfrom the original on 3 July 2022.Retrieved3 July2022.
  30. ^"Dirty Laundry | Greenpeace International".Greenpeace.org. 2011-07-13.Archivedfrom the original on 2011-07-16.Retrieved2015-07-17.
  31. ^"Together in Good Company - OUR PLANET & PEOPLE MATTER".Izod.com.Archived fromthe originalon 2020-10-11.Retrieved2020-09-14.
  32. ^"PVH Corp - pollution".EthicalConsumer.org. 2017-06-13.Archivedfrom the original on 2018-05-24.Retrieved2018-05-22.
  33. ^Rosemary Feitelberg, "PVH Corp. Said to Agree to Stop Using Exotic Skins, After Appeals by PETA,"WWDArchived2020-09-10 at theWayback Machine,10 September 2020.

External links[edit]

  • Official website
  • Business data for PVH Corp.:
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