- Provides roadmap for brand-, digital- and direct-to-consumer (DTC)-led sustainable, profitable growth through 2025 to deliver accelerated financial performance and long-term value creation
Powered by leveraging the strength of PVH’s two iconic global brands,
Calvin Kleinand TOMMY HILFIGER, and connecting them closer to the consumer than ever before
2025 financial objectives include high single-digit global compounded annual revenue growth and total revenue target of
$12.5 billion, with operating margin expanding to 15% and free cash flow above $1 billion
$1.0 billionincrease to PVH stock repurchase program
The PVH+ Plan is the Company’s strategy to accelerate growth by building on the core strengths of PVH and connect
- Win with product – PVH will develop the best hero products in the market across key growth categories, with a focus on expanding in large and growing global demand spaces where the Company’s iconic brands resonate most with consumers.
Win with consumer engagement – By driving digital-first, 360-degree consumer engagement built around brand, hero products and key consumer moments, partnering with the best creators in the industry, and building out each brand’s ambassador program,
Calvin Kleinand Tommy Hilfigerwill meet consumers on their terms in new and engaging ways.
Win in the digitally-led marketplace – The consumer of today shops digitally first and expects seamless integration of their physical and digital experiences. PVH is accelerating digital growth by building a holistic distribution strategy for
Calvin Kleinand TOMMY HILFIGER, led by digital and direct-to-consumer channels, and supported by key wholesale partnerships.
- Develop a demand- and data-driven operating model – PVH is developing a demand- and data-driven operating model, starting with a systematic and repeatable product creation model that puts the consumer first and leverages data to bring new and fresh products to market with speed and agility.
- Drive efficiencies and invest in growth – A key driver of the PVH+ Plan will be the relentless focus on driving efficiencies to become more cost-competitive and reinvest in key strategic growth drivers. PVH is simplifying how its teams work and identifying efficiencies to fuel initiatives with the greatest positive impact and strongest return.
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
The execution of the PVH+ Plan is expected to achieve the following financial objectives:
Revenue: High single-digit compounded annual growth (“CAGR”) from 2021 to approximately
$12.5 billionin 2025. The key drivers of revenue growth across brand, region and channel include:
Balanced growth from
Calvin Kleinand TOMMY HILFIGERglobally
High single-digit CAGR in
Europeand the Americas; mid-teens CAGR in Asia Pacific
- 20%+ CAGR in digital channels
- Direct-to-consumer brick & mortar outpacing wholesale brick & mortar
- Balanced growth from
- Operating margin: Expected to expand to approximately 15% in 2025
Free cash flow: Expected to be over
$1.0 billionin 2025
The Company reaffirms its first quarter and full year 2022 outlook previously announced on
Stock Repurchase Program
This release refers to free cash flow, which is defined as cash flow from operations less capital expenditures and dividends.
Investor Day Webcast
A live video webcast of the event, along with accompanying slides, will be streamed simultaneously starting at
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements in this press release and made during the Investor Day presentations, including, without limitation, statements relating to the Company’s future revenue, earnings, plans, strategies, objectives, expectations and intentions are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not be anticipated, including, without limitation, (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the Company’s ability to realize anticipated benefits and savings from divestitures, restructurings and similar plans, such as the workforce reductions in
This press release includes, and the presentations will include, certain non-GAAP financial measures, as defined under
Revenue and earnings per share guidance for the first quarter ending