PVH (company)
PVH (company)
Formerly | Phillips-Van Heusen Corporation (until 2011) |
---|---|
Type | Public |
Traded as | NYSE: PVH [32] S&P 500 Component |
Industry | Clothing |
Founded | 1881 (1881) |
Founder | Moses Phillips John Van Heusen Dramin Jones |
Headquarters | Manhattan, New York City ,U.S.A |
Key people | Emanuel Chirico(CEO) Stefan Larsson(President) |
Revenue | US$ 9.7 billion (2018)[1] |
Net income | US$ 536 million (2017)[1] |
Number of employees | 19,600 full-time & 16,900 part-time (2017) |
Divisions | Tommy Hilfiger Calvin Klein Izod Arrow Van Heusen Warner's Olga True & Co. Geoffrey Beene Speedo (North America only, licensed in perpetuity from Speedo International) |
Website | www.pvh.com [33] |
PVH Corp., formerly known as the Phillips-Van Heusen Corporation, is an American clothing company which owns brands such as Van Heusen, Tommy Hilfiger, Calvin Klein, IZOD, Arrow, Warner's, Olga, True & Co., and Geoffrey Beene. The company also licenses brands such as BCBG Max Azria, Chaps (men's dress shirts until 2020), Sean John, Kenneth Cole New York, JOE Joseph Abboud, Michael Kors, and Speedo (the latter under an exclusive perpetual license from Speedo International for the North American market).[2] PVH is partly named after Dutch immigrant John Manning Van Heusen, who in 1910 invented a new process that fused cloth on a curve.[3]
Formerly | Phillips-Van Heusen Corporation (until 2011) |
---|---|
Type | Public |
Traded as | NYSE: PVH [32] S&P 500 Component |
Industry | Clothing |
Founded | 1881 (1881) |
Founder | Moses Phillips John Van Heusen Dramin Jones |
Headquarters | Manhattan, New York City ,U.S.A |
Key people | Emanuel Chirico(CEO) Stefan Larsson(President) |
Revenue | US$ 9.7 billion (2018)[1] |
Net income | US$ 536 million (2017)[1] |
Number of employees | 19,600 full-time & 16,900 part-time (2017) |
Divisions | Tommy Hilfiger Calvin Klein Izod Arrow Van Heusen Warner's Olga True & Co. Geoffrey Beene Speedo (North America only, licensed in perpetuity from Speedo International) |
Website | www.pvh.com [33] |
Organization
PVH owns 5 brands ~ Izod, Tommy Hilfiger, Van Heusen, Arrow and Calvin Klein and charters Kenneth Cole New York, Geoffrey Beene, Chaps, Michael Kors, Sean John, BCBG Max Azria and Joseph Abboud.[4]
PVH is headquartered in Manhattan New York,[5] with policy-making offices in Las Vegas, Nevada, Los Angeles, California and Bridgewater, New Jersey and handling plants in Reading, Pennsylvania, Brinkley, Arkansas, Jonesville, North Carolina, Chattanooga, Tennessee and McDonough, Georgia all in the United States.[6]
History
The history of Phillips-Van Heusen (PVH) goes back in part to Dramin Jones, a Prussian immigrant who founded the shirt manufacturing company D. Jones & Sons, c. 1857.[7] 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 M. Phillips & Sons in 1907 under the name Phillips-Jones[8] 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 acquisition of Van Heusen by Phillips-Jones and its renaming to Phillips-Van Heusen in 1957.[9] In 2011, Phillips-Van Heusen is renamed to PVH.[10]
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.[11] In 2004, PVH began manufacturing clothing for the Donald J. Trump Signature Collection as part of a licensing agreement with Donald Trump.[12]
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.[13] The corporation began making men's clothing under the Timberland name in 2008, with women's clothing following in 2009, under a licensing agreement.[14]
On March 15, 2010, Phillips-Van Heusen acquired Tommy Hilfiger for $3 billion.[15] 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 February 2013, PVH acquired Warnaco Group, which manufactured the Calvin Klein underwear, jeans and sportswear lines under license, thus consolidating control of the Calvin Klein brand. The Warnaco acquisition also added the Warner's and Olga intimate apparel brands, as well the Speedo swimwear brand (the latter in North America only). In November 2013 PVH sold the G.H. Bass brand and all of its assets, images and licenses to G-III Apparel Group.[16]
In 2017 Forbes ranked PVH, 25 out of 890 companies on the "Just company" list.[17]
In March 2017, PVH acquired lingerie brand True & Co.[18]
Distribution
PVH provides products to many popular department stores, such as Sears, JC Penney, Macy's, MYER, David Jones, Kohl's, Belk, and Dillard's as well as online retailer Amazon 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, Tommy Hilfiger, and Calvin Klein.
The Calvin Klein stores sell the full range of products at full price, differing from existing outlet stores. These stores are range from 10,000 square feet (930 m2) to 20,000 square feet (1,900 m2).[21]
Phillips-Van Heusen closed its Geoffrey Beene outlet retail division in 2008. Approximately 25 percent of the Geoffrey Beene outlet stores became Calvin Klein stores, while the remaining 75 percent of stores closed entirely.[22][21] The company continued to license the Geoffrey Beene brand name for Geoffrey Beene brand dress shirts and men's sportswear until 2018 when it acquired the brand outright. In 2015, PVH closed its Izod retail division due to an increasing competitive environment driven by more premium brands in the outlet retail channel; this did not affect Izod's wholesale business to department stores and online retailers. Select Izod products are now available at some Van Heusen stores; initially this only included the golf line, but now includes select products from Izod's Advantage and Saltwater lines. In July 2018, PVH launched the StyleBureau.com website, an e-commerce platform featuring products from the Van Heusen and Izod brands.
Marketing
In October 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. PVH paid about $1.4 million a year for two years, then paid $750,000 a year and included the arena employees IZOD uniforms.[23] In 2015 IZOD center was permanently closed.[24]
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.[25]
Animal testing
Concerns have also arisen about PVH's practices with regards to animal testing.[26]