PVH Corp. made several acquisitions over a decade that have redefined the identity, performance and long-term growth potential of the company, the first being the successful acquisition of Calvin Klein in 2003, followed seven years later with the addition of Tommy Hilfiger, and most recently with the acquisition of The Warnaco Group, Inc. (“Warnaco”) in 2013. Through these transformative acquisitions, the company claims that it has secured its position as one of the largest branded lifestyle apparel companies in the world, with a diversified portfolio of iconic lifestyle apparel brands, led by Calvin Klein and Tommy Hilfiger. Together, these two brands represent 85% of its operating profits and are expected to continue to drive future revenue and profitability growth.
With US $ 8.2 billion revenues in 2013 through growing its brands globally across the wholesale, retail, e-commerce and licensing channels, the company has transformed from a primarily North American menswear business to a global organization with significant operations in four regions, and with Asia and Latin America now accounting for over 20% of its operating income.
Most of PVH’s dress shirts and sportswear are sourced and manufactured in the Far East, the Indian subcontinent, the Middle East, the Caribbean and Central America. The footwear is sourced and manufactured principally in the Far East, Europe, South America and the Caribbean and its neckwear fabric is sourced primarily from Europe and the Far East.
The Indian subcontinent has always been an important sourcing hub for PVH and the brands now under its aegis. After its long association with Triburg as its sourcing agency, PVH, decided to have its own direct office in Bangladesh about two years back. With its sourcing increasing exponentially, the company hired Alok Malhotra as Hub Leader to be based in Bangladesh and controlling India, Pakistan and Sri Lanka from the region. However, the growing business from India prompted the company to open its liaison office in Bangalore about six months back which is being headed by Nitin Prasad as Director & Country Head at PVH India. Before joining PVH’s India operations, Nitin was Sourcing Director, PVH Bangladesh Hub for more than a year. Earlier he has worked for Nike India, Arvind Brands and S. Kumars.
