|Traded as||NYSE: PVH
S&P 500 Component
|Headquarters||Manhattan, New York City|
|Revenue||US$ 6.043 billion (2012) |
|Net income||US$ 433.8 million (2012) |
PVH Corp. (NYSE: PVH) is an American clothing company, and the world's largest shirt company. It owns brands such as Tommy Hilfiger, Calvin Klein, Van Heusen, IZOD, Arrow, G. H. Bass and licenses brands such as Geoffrey Beene, BCBG Max Azria, Chaps, Sean John, Kenneth Cole New York, JOE Joseph Abboud and MICHAEL Michael Kors.
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, Sri Lanka, China, Honduras, Hong Kong, Indonesia, Philippines, Malaysia, Mongolia, Singapore, Thailand and Taiwan. The corporation employs over 12,000 people worldwide.
The history of Phillips-Van Heusen (PVH) can be traced back in part to Dramin Jones, a Prussian immigrant who founded D. Jones & Sons, which became 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 Pottsville, Pennsylvania, anthracite coal miners. This grew into a shirt business in New York City that placed one of the first ever shirt advertisements in the Saturday Evening Post. Jones merged with Phillips after Dramin Jones's death in 1903. Later Isaac Phillips met John Van Heusen, resulting in both their most popular line of shirts (Van Heusen) and 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, which was released to the public in 1921 and was 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.
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. The corporation began making men's clothing under the Timberland name in 2008, with women's clothing following in 2009, under a licensing agreement.
In the third quarter of 2010 it was decided on that the "Van Heusen" brand was making a loss and so the decision was made to pull it out of all European trading markets. As of March 2011 there are now no products under that name being sold by the company in Europe. The total sum of their European staff were made redundant as a result.
PVH provides products to many popular department stores, such as 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, Bass, and Calvin Klein. The outlet stores provide product not available through other retailers, such as the clothing available at Bass clothing stores.
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). Phillips-Van Heusen is closing its Geoffrey Beene outlet retail division by the end of fiscal year 2008. Approximately 25 percent of the Geoffrey Beene outlet stores will become Calvin Klein stores, while the remaining 75 percent of store will close entirely. 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.
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.
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 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.
PVH responds with a commitment to Detox the Textile industry
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- Andrew Ross Sorkin; Michael J. de la Merced (15 March 2010). "Phillips-Van Heusen Buys Hilfiger for $3 Billion". New York Times.
- "Calvin Klein, Inc. Announces the Opening of 'Calvin Klein' Branded Freestanding Retail Stores in U.S.". Business Wire. 2007. Retrieved 2008-03-14.
- "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.
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- Greenpeace.Dirty Laundry: Unravelling the corporate connections to toxic water pollution in China.