PVH CORP
COMPANIES AND ENTREPRENEURS, P
PVH CORP (FORMER PHILLIPS-VAN HEUSEN) IS A GROUP OF CLOTHING BRANDS BASED IN NEW YORK, UNITED STATES
Formerly Phillips-Van Heusen, PVH Corp. is a group of clothing brands headquartered in New York, United States. This includes Calvin Klein Corporation, Van Heusen, Izod, Arrow, and G.H. Bass. Total revenue in 2017 was $ 8.4 billion. About 52% was generated by Tommy Hilfiger, 30% by Heritage Brands, and 18% by Calvin Klein.
Mainly headquartered in Manhattan New York, and as of April 2014, PVH had over 120,000 employees. In summary, they had operational offices in India, Sri Lanka, Bangladesh, China, Hong Kong, Philippines, Indonesia, Mongolia, Thailand, Malaysia, Taiwan, Singapore, and Honduras. Although September 2020, PVH announced that Stefan Larsson would have been named CEO on February 1, 2021, succeeding Emanuel Chirico, who remains the chairman.
PHILLIPS-VAN HEUSEN’S (PVH) STORY
In the history of Phillips-Van Heusen (PVH Corp) dates back partially to Dramin Jones, a Prussian immigrant who founded the shirt company D. Jones & Sons, c. 1865. Simultaneously in 1881, Moses Phillips and his wife Endel began sewing shirts by hand and selling them to anthracite coal miners in Pottsville, Pennsylvania. AS a result, this shirt business developed in New York and created one of the first ever T-shirt advertisements in the Saturday Evening Post. D. Jones & Sons merged with M. Phillips & Sons in 1907 under the name Phillips-Jones. Isaac Phillips later met John Van Heusen, creating both their most popular line of shirts (Van Heusen) and their acquisition of Van Heusen by Phillips-Jones and renaming it to Phillips-Van Heusen in 1957. In 2011, Phillips-Van Heusen was renamed, PVH Corp.
PVH CORP ACQUISITIONS
Phillips-Jones Corporation acquired a patent for an automatic folding collar in 1919. Significantly, the company launched the product in 1921 and it was successful. Notably, the first collared shirt was introduced in 1929. The Bass Weejun was launched in 1936. The Geoffrey Beene shirts were launched in 1982.
During 1987, Phillips-Van Heusen acquired GH Bass. In 1995, the company acquired the Izod brand, followed by the Calvin Klein company in 2002. Subsequently, in 2004 PVH began producing clothing for the Donald J. Trump Signature Collection as part of a licensing agreement with Donald Trump.
After acquiring Superba, Inc., in January 2007, PVH owned tie licenses for brands such as Arrow, DKNY, Tommy Hilfiger, Nautica, Perry Ellis, Ted Baker, Michael Kors, JOE Joseph Abboud, Original Penguin, and Jones New York. The company began manufacturing menswear under the Timberland brand in 2008, followed by womenswear in 2009 under licensing agreement.
PVH Corp. appoints Stefan Larsson to the new role of president.
ACQUISITION OF TOMMY HILFIGER
On March 15, 2010, Phillips-Van Heusen acquired Tommy Hilfiger for $ 3 billion. In the third quarter of 2010, the losses suffered by the “Van Heusen” brand led to the decision to withdraw from all European commercial markets.
In February 2013, PVH acquired Warnaco Group, which produced the Calvin Klein underwear, jeans, and sportswear lines under license, thus consolidating control of the Calvin Klein brand. The Warnaco acquisition also added the underwear brands Warner’s and Olga, as well as the swimwear brand Speedo (the latter only in North America). In November 2013, PVH sold the GH Bass brand and all of its assets, images, and licenses to G-III Apparel Group.
LICENSE AGREEMENT WITH TRUMP
The brand closed its licensing deal with Trump in July 2015, after Macy’shalted sales of its Trump Signature Collection due to comments Trump made about illegal immigrants. In 2017 Forbes ranked PVH 25th out of 890 companies in one “Just company” list. In March 2017, PVH acquired the True & Co underwear brand
As of June 2018, PVH acquired the Geoffrey Beene clothing brand, which PVH previously produced under license. On the 28th of August 2018, PVH announced that it would expand the distribution of the Izod brand to Europe as well.
By January 2020, PVH resold the Speedo swimwear brand, previously marketed under “Speedo USA” and “Speedo North America”, to parent company Speedo, the British group Pentland for 170 million.
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