PVH Corporation, or formerly known as Phillips-Van Heusen Corporation, is an American fashion and apparel company. Based on global sales growth figures, PVH Corporation was among the 10 leading apparel, accessories and footwear companies in 2020, when many brands in the industry had seen catasthrophic declines in sales and profits due to the coronavirus (COVID-19) pandemic. Based on revenue, PVH was also the second largest apparel retailer in the world that year.
PVH Corporation is the parent to a number of popular brands including Tommy Hilfiger, Calvin Klein, and Heritage brands. In 2020, the premium apparel label Tommy Hilfiger was the most successful brand of the company, followed by Calvin Klein. In 2020, due to the impact of the pandemic on the fashion industry, both brands suffered a decline in brand value, with both Tommy Hilfiger’s and Calvin Klein’s worth declining by more than a billion U.S. dollars. From mid-2021 onwards, PVH Corporation announced that its Heritage Brands segment, which included both wholesale and retail businesses, would cease operations.
Despite going through a fluctuation in terms of revenue and brand value, PVH Corporation’s widely recognizable brands still retain their popularity among consumers. In 2021, based on an index ranking of fashion brands’ global performance, Calvin Klein came in eighth place in the United States. Similarly, with many British consumers, Calvin Klein was received positively as a luxury brand, coming in third place after brands, such as Rolex and Swarovski.
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