Phillips-Van Heusen Changes Name
Phillips-Van Heusen Corporation has been formally renamed PVH Corp. after receiving overwhelming stockholder approval of the change at its annual meeting. The company will continue to be listed on the New York Stock Exchange under the ticker PVH.
“In under a decade, our company has experienced a tremendous amount of change that has redefined the identity, culture, performance and potential of the company — first with the successful acquisition of Calvin Klein in 2003 and then with the addition of Tommy Hilfiger in 2010. Through these transformative acquisitions, we have secured our position as one of the largest global apparel companies, with a diversified portfolio of iconic lifestyle and apparel brands, led by Calvin Klein and Tommy Hilfiger. The Calvin Klein and Tommy Hilfiger brands alone represent over 75 percent of our revenues and profits and are expected to drive our future revenue and profitability growth,” said Emanuel Chirico, chairman and chief executive officer of PVH Corp.
Chirico added, “We evolved from a family-controlled, one brand manufacturing company into a Fortune 500 company by successfully growing brands globally through a strategic combination of wholesale, retail and licensing operations. Through this period of significant growth, our customers, stockholders, vendors and other stakeholders around the world have come to think of us more and more as ‘PVH’. It is this corporate identity that has became associated with our ongoing success. The formal adoption of the ‘PVH Corp.’ name is symbolic of this transformation, while maintaining a link to our heritage.”
Chirico added, “We evolved from a family-controlled, one brand manufacturing company into a Fortune 500 company by successfully growing brands globally through a strategic combination of wholesale, retail and licensing operations. Through this period of significant growth, our customers, stockholders, vendors and other stakeholders around the world have come to think of us more and more as ‘PVH’. It is this corporate identity that has became associated with our ongoing success. The formal adoption of the ‘PVH Corp.’ name is symbolic of this transformation, while maintaining a link to our heritage.”
PVH has grown exponentially from its 1881 roots of selling and mending shirts for miners in Pottsville, PA and through the introduction of the Van Heusen soft-folding collar in the 1920’s to become a global company with 2010 revenues of almost $5 billion, with direct sales to a wide range of consumers and retailers throughout North America, Europe and Asia under its Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, G.H. Bass & Co. brands, as well as numerous licensed brands.