PVH Corp.
Phillips-Van Heusen Corporation (Dutch pronunciation: [ˈfɪlɪps vɑn ˈhøːsən]) (NYSE: PVH) is an American apparel company, and the world's largest shirt company. It owns brands such as Calvin Klein, Van Heusen, Izod, Arrow, Bass and licenses brands such as Geoffrey Beene, BCBG Max Azria, Chaps, Sean John, Kenneth Cole New York, JOE Joseph Abboud and MICHAEL Michael Kors.
Organization
Phillips-Van Heusen's main headquarters are located in Manhattan, with administrative offices in Bridgewater, New Jersey, and Los Angeles, California. Additional distribution facilities in the United States are located in Brinkley, Arkansas; Austell, Georgia; Jonesville, North Carolina; Breinigsville, Reading and Schuylkill Haven, Pennsylvania; and Chattanooga, Tennessee.
Phillips-Van Heusen has several sourcing facilities worldwide. These facilities are located in Sri Lanka, Bangladesh, China, Honduras, Hong Kong, Indonesia, Philippines, Malaysia, Mongolia, Singapore, Thailand and Taiwan.[1] The corporation employs over 12,000 people worldwide[citation needed].
History
The history of Phillips-Van Heusen can be traced back to 1876, when G. H. Bass began his shoe manufacturing company in Maine. Separately, John M. Van Heusen and Isaac Phillips met and formed the Phillips-Van Heusen Corporation, and Vin Draddy acquired the rights to the Izod name in the early 1900s. In 1881, Moses Phillips and his wife Endel began sewing shirts by hand and selling them from pushcarts to local Pottsville, Pennsylvania anthracite coal miners. This grew into a shirt business in New York City that placed one of the first ever shirt ads in the Saturday Evening Post.
The Phillips-Van Heusen Corporation received a patent for a self-folding collar in 1919, which was released to the public in 1921 and was successful. The first collar attached shirt was introduced in 1929. The Bass Weejun was introduced in 1936. Geoffrey Beene shirts were launched in 1982. In 1987, Phillips-Van Heusen acquired G.H. Bass. In 1995, the corporation acquired the Izod brand, followed by the Arrow brand in 2000, and the Calvin Klein company in 2002.[2]
After acquiring Superba, Inc. in January 2007, PVH now owns necktie licenses for brands such as Arrow, DKNY, Tommy Hilfiger, Nautica, Perry Ellis, Ted Baker, Michael Kors, JOE Joseph Abboud, Original Penguin and Jones New York.[3] The corporation will begin making men's apparel under the Timberland name in 2008, with women's apparel to follow in 2009, under a licensing agreement. [4]
Distribution
Phillips-Van Heusen provides products to many popular department stores, such as Macys, Kohls, and Dillards, both through its own labels and private label agreements. Phillips-Van Heusen also sells its products directly to customers through about 700 outlet stores under the brand names Van Heusen, IZOD, Bass, and Calvin Klein. The outlet stores provide product not available through other retailers, such as the clothing available at Bass clothing stores.
These stores will sell the full range of Calvin Klein product at full price, differing from existing outlet stores. The stores will be about 10,000 square feet (930 m2).[5] Phillips-Van Heusen is closing its Geoffrey Beene outlet retail division by the end of fiscal year 2008.[6][7] Approximately 25 percent of the Geoffrey Beene outlet stores will become Calvin Klein stores, while the remaining 75 percent of store will close entirely.[6][7] The company will continue to license the Geoffrey Beene brand name for Geoffrey Beene brand dress shirts and men's sportswear until at least 2013.[6]
Marketing
Historically, Phillips-Van Heusen has not had a strong advertising presence of its own, preferring to let its department store customers market their products within its stores.
On October 4, 2007, Phillips-Van Heusen took over naming rights to the Meadowlands Sports Complex arena in East Rutherford, New Jersey. The arena's name was changed to the Izod Center, and the change became effective on October 31, 2007.[citation needed] The corporation will pay about $1.3 million a year over the next five years for the naming rights, and will handle marketing for arena events.[citation needed]
References
- ^ "Join Our Team :: World Locations". Retrieved 2008-03-14.
- ^ "Our Company :: History". Retrieved 2008-03-14.
- ^ "Phillips-Van Heusen Corp (PVH) Full Description". Retrieved 2008-03-14.
{{cite web}}: Text "Reuters.com" ignored (help); Text "Stocks" ignored (help) - ^ Rich Duprey (2007). "Foolish Forecast: Phillips-Van Heusen Buttons Up". The Motley Fool. Retrieved 2008-03-14.
- ^ "Calvin Klein, Inc. Announces the Opening of 'Calvin Klein' Branded Freestanding Retail Stores in U.S." Business Wire. 2007. Retrieved 2008-03-14.
- ^ a b c "Phillips-Van Heusen Announces Decision Not to Renew Geoffrey Beene Retail License Agreements; Extends Wholesale Dress and Sport Shirt License" (Press release). Phillips-Van Heusen Corporation. May 28, 2008.
- ^ a b "Phillips-Van Heusen will shutter Geoffrey Beene stores". Associated Press. International Business Times. May 28, 2008.