Stefan Larsson, CEO, PVH Corp projects the company to continue to exceed pre-pandemic levels throughout the remainder of 2021. As per Sourcing Journal, the company projects to grow by approximately 26 per cent full year and 23 per cent on a constant currency basis compared to 2020. Despite pandemic-related supply chain issues, the company’s first quarter results exceeded expectation with revenues increasing by 55 per cent to $2.08 during the first quarter compared to $1.35 billion in the prior-year period.
The denim category experienced one of the fastest sell-outs within the Calvin Klein brand, demonstrating its potential as a multi-category lifestyle brand, says Larsson. The brand’s recent collaboration with designer Heron Preston and its new campaign featuring models Ashley Graham and Kaia Gerber, rappers Nas and Lil Uzi Vert, skater Stevie Williams, helped it tap into a younger demographic, adds Larsson. The collaboration also yielded some of the highest average unit retail (AUR) and average order retail the brand has ever seen. Larsson says, Calvin Klein will continue to launch creative collaborations and campaigns to increase its brand’s relevance,
PVH’s other brand Tommy Hilfiger also benefitted from an increased demand for denims. The brand’s revenues increased 63 per cent increase due in part to a spring collaboration with Amsterdam-based streetwear brand Patla, adds Larsson. The brand recently also launched a limited-edition three-part collection of upcycled Tommy Hilfiger and Tommy Jeans products. Part of the Tommy for Life program, the Reloved collection featured previously owned products traded in by consumers. The Refreshed collection offers repaired garments from the store and e-commerce returns. In the Remixed collection, items damaged beyond repair are broken down to the fiber level and reimagined into new garments or used for insulation.
The brand also launched the third installment of Tommy’s Drop Shop co-designed with London-based creative, Stevie Gee, featuring limited-edition hoodies and T-shirts exclusively sold in Europe.
