PVH Corp has introduced the PVH+ Plan, its multi-year, strategic growth plan, providing an overview of the opportunities to fully leverage the strength of its two iconic global brands in all regions, and share how this plan will achieve the financial objectives. The PVH+ Plan is the company’s strategy to accelerate growth by building on the core strengths.
PVH+ Plan will connect Calvin Klein and Tommy Hilfiger– each with high global brand awareness and deep loyalty – closer to the consumer than ever before through five key drivers such as win with product, win with consumer engagement, win in the digitally-led marketplace, develop a demand- and data-driven operating model and drive efficiencies and invest in growth.
These five foundational drivers apply to each of PVH’s businesses and are activated in the regions to reflect consumer differences and their unique expectations. Leveraging the full power of Calvin Klein and Tommy Hilfiger, PVH is building on its market-leading strength in Europe, accelerating from strength in Asia Pacific, and unlocking the full potential of the strength of its brands in the Americas, the company said in a press release.
PVH Corp has introduced the PVH+ Plan, its multi-year, strategic growth plan, providing an overview of the opportunities to fully leverage the strength of its two iconic global brands in all regions, and share how this plan will achieve the financial objectives. The PVH+ Plan is the company’s strategy to accelerate growth by building on the core strengths.
“Having successfully driven an accelerated recovery and generated record earnings per share in 2021, our priority now is to connect with the consumer in ways that reflect the formula to win in the ‘new normal’ and create long-term value. The execution of the PVH+ Plan will accelerate the growth of Calvin Klein and Tommy Hilfiger, two of the most iconic brands in the world, by unlocking their full potential across each of our regions,” Stefan Larsson, chief executive officer, said.
“Our new, multi-year strategic growth plan leverages the global strength of our brands and reflects the compelling opportunities we see across our channels and geographies. While investing to fully capitalize on the global, digital and DTC-focused potential of our plan, we will also drive efficiencies that together will accelerate earnings growth and deliver strong and sustainable shareholder returns,” Zac Coughlin, chief financial officer, said.
The execution of the PVH+ Plan is expected to achieve high single-digit compounded annual growth (“CAGR”) from 2021 to approximately $12.5 billion in 2025. The key drivers of revenue growth across brand, region and channel include balanced growth from Calvin Klein and Tommy Hilfiger globally, high single-digit CAGR in Europe and the Americas; mid-teens CAGR in Asia Pacific, 20 per cent+ CAGR in digital channels.
Fibre2Fashion News Desk (RR)
