Desk Report: US clothing firm, PVH group announced a multi-year strategic plan to surpass $12 billion in revenue by 2025, reaching compound annual growth at its highest rate over the next three years.
New York-based company, owned Calvin Klein and Tommy Hilfiger brand, ahead of an April 13 investor day with a statement from CEO, Stefan Larsson, outlining the company’s PVH+ Plan, a new road map for sustainable and profitable growth brand, digital and direct-to-consumer (DTC) profits through 2025.
The new strategy consists of 5 main pillars: products, in which PVH aims to create “the best hero products” in key growth categories; consumer engagement, by creating 360-degree consumer interactions built on “hero products”, by “collaborating with the best creators in the industry”; digitally-led market, by driving digital growth and “building a comprehensive distribution strategy for Calvin Klein and Tommy Hilfiger; developing a demand and data-driven operating model; driving efficiency and investment in growth.
PVH also reaffirmed its first quarter and full year 2022 guidance from March 2022, when it had predicted its revenue for the year to grow by 2 per cent to 3 per cent. PVH is one of the world’s largest and most admired fashion companies, connecting with consumers in over 40 countries.