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Global expansion at PVH, 12% rise in revenue outside US

22
May '19
Pic: PVH Corporation
Pic: PVH Corporation
Global expansion continues to be a key priority at PVH with revenue growth of 12 per cent outside of the US. The company has introduced immersive brand experiences, including collaborations globally with pure play digital commerce retailers, engaging social media content and live streaming runway shows with real-time shopping capabilities.

PVH continues to invest in in-store and online experiences to offer a truly transformational experience, the company said in its Annual Report 2018. The enhancement included upgrading stores through the further implementation of Store of the Future concepts, which offer omni-channel features, product customisation and next-level technical capabilities.

"Our consumers are our lifeblood and we are passionate about delivering the ultimate brand experience. We hosted innovative, interactive brand events that brought our brands and products to life, reaching new and existing consumers through a youth-targeted marketing approach. We fostered a culture of imagination and encouraged our teams to be more nimble," Emanuel Chirico, chairman and chief executive officer.

The report stated that optimising supply chain and focusing on sustainability remain its top priorities. It works with 'next generation' vendors, with whom they have close and long term oriented partnerships.

The report has highlighted the company’s sustained focus on meeting the needs of a changing consumer landscape along with the passion and dedication of its associates, which led to results that significantly exceeded initial expectations.

In 2018, PVH invested in systems – from planning and enterprise software to point of sale technology. The teams focused on integrating digital into their processes, including 3D design and our industry-first digital showrooms.

Recently, PVH unveiled the next evolution of CR strategy – Forward Fashion. The heart of this ambitious vision for the future is to reduce negative impacts to zero, increase positive impacts to 100 per cent and improve the over one million lives across our value chain.

"Looking ahead, we plan to continue to use our balance sheet strategically, with a focus on driving returns. We will continue to reinvest in our brands and assume more direct control over select Calvin Klein and Tommy Hilfiger licensed businesses, including our pending acquisitions of Gazal Corporation Limited and the Tommy Hilfiger retail business licensed to Dickson Concepts (International) Ltd. for Hong Kong, Macau, Taiwan, Singapore and Malaysia. We will also continue to repurchase stock – particularly when we see significant upside compared to its trading value – and pay down debt," said Chirico. (RR)

Fibre2Fashion News Desk – India


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