Profile: PVH Corp (PVH)
11 Mar 2014
PVH Corp., incorporated on April 8, 1976, is an apparel company. The Company’s portfolio of brands includes Calvin Klein, Tommy Hilfiger brands, Van Heusen, IZOD, Bass, ARROW and Eagle, which are owned brands, and Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, JOE Joseph Abboud, MICHAEL Michael Kors, Michael Kors Collection, CHAPS, Donald J. Trump Signature Collection, DKNY, Elie Tahari, Nautica, Ted Baker, J. Garcia, Claiborne, Robert Graham, U.S. POLO ASSN., Axcess and Jones New York, which are licensed, as well as various other licensed and private label brands. It designs and markets branded dress shirts, neckwear, sportswear and, to a lesser extent, footwear and other related products. Additionally, it licenses its owned brands over a range of products. It manages its operations through its operating divisions, which consist of seven segments: Heritage Brand Wholesale Dress Furnishings, Heritage Brand Wholesale Sportswear, Heritage Brand Retail, Calvin Klein Licensing, Tommy Hilfiger North America, Tommy Hilfiger International, and Other (Calvin Klein Apparel). During the fiscal year ended January 29, 2012, the Company reacquired the rights in India to the Tommy Hilfiger trademarks. In September, 2011, PVH Corp.'s Tommy Hilfiger Group has bought a 50% stake in Arvind Limited's joint venture, Arvind Murjani Brands Pvt. Ltd. On September 7, 2011, the Company acquired a 50% equity interest in Tommy Hilfiger Arvind Fashion Private Limited (TH India). In February 2013, the Company announced the acquisition of The Warnaco Group Inc.
Tommy Hilfiger Business
The Company Tommy Hilfiger Business consists of the Company’s Tommy Hilfiger North America and Tommy Hilfiger International segments. Tommy Hilfiger products cover a range of apparel, accessories and lifestyle products. As of January 29, 2012, Tommy Hilfiger was distributed in over 90 countries. Tommy Hilfiger is targeted at the 25 to 45 year old consumer, and Hilfiger Denim is targeted at the 20 to 35 year old consumer. Tommy Hilfiger product offerings and licensees include sportswear for men, women and children, footwear, athletic apparel (golf, swim and sailing), bodywear (underwear, robes and sleepwear), eyewear, sunwear, watches, handbags, men’s tailored clothing, men’s dress furnishings, socks, small leather goods, fragrances, home and bedding products, bathroom accessories and luggage. The Hilfiger Denim product line consists of jeanswear and footwear for men, women and children, bags, accessories, eyewear and fragrance.
The Tommy Hilfiger wholesale business consists of the distribution and sale of products under the Tommy Hilfiger brands to stores operated by franchisees and distributors and through retail customers. The European retail customers consist of large department stores to small independent stores. The Tommy Hilfiger retail business principally consists of the distribution and sale of Tommy Hilfiger products in Europe, the United States, Canada and Japan through Company-operated specialty stores (anchor stores and satellite stores) and outlet stores, as well as multiple e-commerce sites. The Company licenses Tommy Hilfiger brands to third parties both for specific product categories ,such as fragrances, watches, jewelry and eyewear and in certain geographic regions. During the fiscal year ended January 29, 2012 approximately 31% of Tommy Hilfiger’s royalty, advertising and other revenue was generated domestically and approximately 69% was generated internationally. As of January 29, 2012, Tommy Hilfiger had 29 license agreements.
Calvin Klein Business
The Company’s Calvin Klein business consists of the Calvin Klein Licensing segment (including its Calvin Klein Collection business, which it operate directly in support of the global licensing of the Calvin Klein brands) and the Other (Calvin Klein Apparel) segment, which is comprised of its Calvin Klein dress furnishings, sportswear and outlet retail divisions.
The Company’s Calvin Klein business consists of licensing and similar arrangements worldwide for the use of Calvin Klein brands in connection with a range of products including women’s women’s dresses and suits, men’s dress furnishings and tailored clothing, men’s and women’s sportswear and bridge and collection apparel, golf apparel, jeanswear, underwear, fragrances, eyewear, women’s performance apparel, hosiery, socks, footwear, swimwear, jewelry, watches, outerwear, handbags, small leather goods and home furnishings , as well as to operate retail stores outside North America, and the marketing of the Calvin Klein Collection brand men’s and women’s apparel and accessories collections through its Calvin Klein Collection flagship store located in New York City and itsCalvin Klein Collection wholesale business (Calvin Klein Licensing segment and its Calvin Klein dress furnishings and men’s better sportswear businesses, which operate principally in the United States and Canada, and its Calvin Klein retail stores located principally in outlet malls in the United States and Canada (Other (Calvin Klein Apparel) segment).
During the fiscal year ended January 31, 2012, 40% of Calvin Klein’s royalty, advertising and other revenue was generated domestically and approximately 60% was generated internationally. As of January 31, 2012, the Company had 60 licensing and other arrangements across the three Calvin Klein brands.
Heritage Brand Business
The Company’s Heritage Brand consists of the Heritage Brand Wholesale Dress Furnishings, Heritage Brand Wholesale Sportswear and Heritage Brand Retail segments. The Company’s Heritage Brand business designs, sources and markets a varied selection of branded label dress shirts, neckwear, sportswear, footwear and underwear, as well as the licenses heritage brands (Van Heusen, IZOD, ARROW and Bass), for an assortment of products. The Heritage Brand business also includes private label dress furnishings programs, particularly neckwear programs. The Company distributes its Heritage Brand products at wholesale in national and regional department, mid-tier department, mass market, specialty and independent stores in the United States, Canada and Europe.
The Heritage Brand Dress Furnishings segment principally includes the design and marketing of men’s dress shirts and neckwear. It markets its products principally under the Van Heusen, ARROW, IZOD, Eagle, Sean John, Donald J. Trump Signature Collection, Kenneth Cole New York, Kenneth Cole Reaction, JOE Joseph Abboud, DKNY, Elie Tahari, J. Garcia and MICHAEL Michael Kors brands. In addition, it markets dress shirts under the Geoffrey Beene and CHAPS brands and neckwear under the Nautica, Michael Kors Collection, Jones New York, Ted Baker, Axcess, U.S. POLO ASSN., Hart Schaffner Marx, Bass, Claiborne and Robert Graham brands. It markets dress shirt and neckwear brands, as well as various other licensed and private label brands, primarily to department, mid-tier department and specialty stores, as well as, to a lesser degree, mass market stores.
The Heritage Brand Sportswear segment includes the design and marketing of sportswear, including men’s knit and woven sport shirts, sweaters, bottoms, swimwear and outerwear, at wholesale, principally under the IZOD, Van Heusen, ARROW, Geoffrey Beene and Timberland brands. It also markets sportswear, including knit and woven sport shirts, sweaters, bottoms and outerwear under the IZOD brand.
The Company operates Heritage Brand Retail segment under the Van Heusen, IZOD and Bass names. It operates these stores primarily in outlet centers throughout the United States and Canada. Its Van Heusen stores offer men’s dress shirts, neckwear and underwear, men’s and women’s suit separates, men’s and women’s sportswear, including woven and knit shirts, sweaters, bottoms and outerwear, and men’s and women’s accessories. Its IZOD stores offer men’s and women’s active-inspired sportswear, including woven and knit shirts, sweaters, bottoms and activewear and men’s and women’s accessories. These stores focus on golf, travel and resort clothing. Its Bass stores offer casual and dress shoes for men, women and children. Its Bass stores also carry apparel for men and women, including tops, neckwear, bottoms and outerwear, as well as accessories such as handbags, wallets, belts and travel gear. The Company licenses its heritage brands globally for a range of products through approximately 40 domestic and 40 international license agreements covering approximately 115 territories combined.
The Company competes with Ralph Lauren Corporation, V.F. Corporation and Perry Ellis International, Inc., The Donna Karan Company LLC, Giorgio Armani S.p.A., Gucci Group N.V., Prada S.p.A. Group, Michael Kors Holdings Limited, Burberry Group PLC, Gant Company AB, Hugo Boss AG, Lacoste S.A., Diesel S.p.A., Pepe Jeans, S.L. and Guess?, Inc..
200 Madison Avenue
NEW YORK NY 10016