In 2018, PVH’s revenue was up eight per cent. The fashion giant is on the lookout for new brands, or a portfolio of brands, that it can layer on to its operating platform. PVH has done three major acquisitions: Calvin Klein, Tommy Hilfiger and Warnaco, which owns the Calvin Klein Jeans and Underwear licenses. Currently, it has paid all the debts associated with these acquisitions.
US-based PVH Corp is the owner among others of Calvin Klein and Tommy Hilfiger. The group has cut production of goods made in China for the US market. Three or four years ago, about 35 per cent of its production for the US was sourced from China. Next year, it is looking at something that’s closer to 10 per cent. PVH may raise the prices of certain products to compensate for inflationary pressures.
PVH’s business is strongly anchored in the US, where in 2018 it generated 46 per cent of its sales, but the group is reorganising itself in the US market. Tommy Hilfiger has been working to boost its appeal in China, engineering double-digit growth in the country in 2018. Asia accounts for 12 per cent of the group’s sales.
