PVH (company)

PVH Corp.
Public company
Traded as NYSE: PVH
S&P 500 Component
Industry Clothing
Founded 1881
Headquarters Manhattan, New York City, New York, United States
Key people
 Emanuel Chirico Chairman, CEO, Director
Revenue US$ 6.043 billion (2012) [1]
US$ 433.8 million (2012) [1]
Number of employees
 12,000+
Divisions Tommy Hilfiger
Calvin Klein
Izod
Arrow
Website www.pvh.com

The Phillips-Van Heusen Corporation, commonly referred to as PVH Corp (NYSE: PVH), is an American clothing company which owns brands such as Tommy Hilfiger, Calvin Klein, IZOD, Arrow, and licenses brands such as Geoffrey Beene, BCBG Max Azria, Chaps, Sean John, Kenneth Cole New York, JOE Joseph Abboud and MICHAEL Michael Kors.

It is partly named after Dutch immigrant John Manning Van Heusen, who in 1910 invented a new process that fused cloth on a curve.[2]

Organization

PVH Corp has its main headquarters in Manhattan, with administrative offices in Bridgewater, New Jersey; Las Vegas, Nevada and Los Angeles, California. Additional distribution facilities in the United States are located in Brinkley, Arkansas; McDonough, Georgia; Jonesville, North Carolina; Reading, Pennsylvania; and Chattanooga, Tennessee.

PVH has several sourcing facilities worldwide, located in Bangladesh, India, Sri Lanka, China, Honduras, Hong Kong, Indonesia, Philippines, Malaysia, Mongolia, Singapore, Thailand and Taiwan.[3] The corporation employs over 12,000 people worldwide.

History

The history of Phillips-Van Heusen (PVH) goes back in part to Dramin Jones, a Prussian immigrant who founded D. Jones & Sons, which had become the largest shirt-maker in the United States by the 1880s. Separately, in 1881, Moses Phillips and his wife Endel began sewing shirts by hand and selling them from pushcarts to local anthracite coal-miners in Pottsville, Pennsylvania. This grew into a shirt business in New York City that placed one of the first ever shirt advertisements in the Saturday Evening Post. D. Jones & Sons merged with Phillips after Dramin Jones's death in 1903. Later Isaac Phillips met John Van Heusen, resulting both in their most popular line of shirts (Van Heusen) and in the subsequent renaming of the corporation to Phillips-Van Heusen in the 1950s.

The Phillips-Jones Corporation received a patent for a self-folding collar in 1919; the corporation released the product to the public in 1921 and it became successful. The first collar-attached shirt was introduced in 1929. The Bass Weejun was introduced in 1936. Geoffrey Beene shirts were launched in 1982. In 1987, Phillips-Van Heusen acquired G.H. Bass. In 1995, the corporation acquired the Izod brand, followed by the Arrow brand in 2000, and the Calvin Klein company in 2002.[4]

After acquiring Superba, Inc., in January 2007, PVH now owns necktie 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.[5] The corporation began making men's clothing under the Timberland name in 2008, with women's clothing following in 2009, under a licensing agreement.[6]

On March 15, 2010, Phillips-Van Heusen acquired Tommy Hilfiger for $3 billion.[7]

In the third quarter of 2010 losses made on the "Van Heusen" brand led to the decision to pull it out of all European trading markets. As of March 2011 the company sells no products under that name in Europe. All European staff became redundant as a result.

In November 2013 PVH sold the G.H. Bass brand and all of its assets, images and licenses to AM Retail Group.

Distribution

PVH provides products to many popular department stores, such as Sears, JC Penney, Macy's, MYER, David Jones, Kohl's, and Dillard's, both through its own labels and private label agreements. PVH also sells its products directly to customers through about 700 outlet stores under the brand names Van Heusen, IZOD, and Calvin Klein.

These stores will sell the full range of Calvin Klein product at full price, differing from existing outlet stores. The stores will be about 10,000 square feet (930 m2).[8] Phillips-Van Heusen is closing its Geoffrey Beene outlet retail division by the end of fiscal year 2008.[9][10] Approximately 25 percent of the Geoffrey Beene outlet stores will become Calvin Klein stores, while the remaining 75 percent of stores will close entirely.[9][10] The company will continue to license the Geoffrey Beene brand name for Geoffrey Beene brand dress shirts and men's sportswear until at least 2013.[9]

Marketing

Historically, PVH has not had a strong advertising presence of its own, preferring to let its department store customers market their products within its stores.

On October 4, 2007, PVH took over naming rights to the Meadowlands Sports Complex arena in East Rutherford, New Jersey. The arena's name was changed to the Izod Center, and the change became effective on October 31, 2007. The corporation will pay about $1.3 million a year over the next five years for the naming rights, and will handle marketing for arena events.

Controversy

Environmental practices

In July 2011, PVH—along with other major fashion and sportswear brands including Nike, Adidas and Abercrombie & Fitch—was the subject of a report by the environmental group Greenpeace entitled "Dirty Laundry". PVH is accused of working with suppliers in China who, according to the findings of the report, contribute to the pollution of the Yangtze and Pearl Rivers. Samples taken from one facility belonging to the Youngor Group located on the Yangtze River Delta and another belonging to the Well Dyeing Factory Ltd. located on a tributary of the Pearl River Delta revealed the presence of hazardous and persistent hormone disruptor chemicals, including alkylphenols, perfluorinated compounds, and perfluorooctane sulfonate.[11]

PVH responded with a commitment to Detox the Textile industry.

References

  1. 1 2 "2012 Annual Report". Pvh.com. Retrieved 2015-07-17.
  2. ↑
  3. ↑ "Join Our Team :: World Locations". Archived from the original on 2008-02-23. Retrieved 2008-03-14.
  4. ↑ "Our Company :: History". Archived from the original on 2008-02-23. Retrieved 2008-03-14.
  5. ↑ "Phillips-Van Heusen Corp (PVH) Full Description". Reuters. Retrieved 2008-03-14.
  6. ↑ Rich Duprey (2007). "Foolish Forecast: Phillips-Van Heusen Buttons Up". The Motley Fool. Retrieved 2008-03-14.
  7. ↑ Andrew Ross Sorkin; Michael J. de la Merced (15 March 2010). "Phillips-Van Heusen Buys Hilfiger for $3 Billion". New York Times.
  8. ↑ "Calvin Klein, Inc. Announces the Opening of 'Calvin Klein' Branded Freestanding Retail Stores in U.S.". Business Wire. 2007. Retrieved 2008-03-14.
  9. 1 2 3 "Phillips-Van Heusen Announces Decision Not to Renew Geoffrey Beene Retail License Agreements; Extends Wholesale Dress and Sport Shirt License" (Press release). Phillips-Van Heusen Corporation. May 28, 2008.
  10. 1 2 "Phillips-Van Heusen will shutter Geoffrey Beene stores". International Business Times. Associated Press. May 28, 2008.
  11. ↑ "Dirty Laundry | Greenpeace International". Greenpeace.org. 2011-07-13. Retrieved 2015-07-17.

External links

This article is issued from Wikipedia - version of the Saturday, May 07, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.