×
191
Fashion Jobs
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Production / Plant Manager
Permanent · Ahmedabad
JIO
Territory Sales Manager - Warangal & Hannumakonda
Permanent · Hanamkonda
BASIC ENTERPRISES PVT LTD
Loan Consultant/ Area Sales Manager 4l Salary
Permanent · Gurugram
WHITEHAT JR
Sales Manager(Inside Sales_day Shift) Mumbai or Gurgaon _onsite
Permanent · Gurugram
VOLVO WHITE PAINTS INDUSTRIES
Hiring For Sales Officer/Area Sales Manager/ (Haryana)
Permanent · Sonipat
RESPICARE SOLUTIONS
Area Sales Manager /Business Development Manager-Mumbai / Maharashtra
Permanent · Navi Mumbai
GRAND CHEMICAL WORKS
Area Sales Manager- Jaipur & Lucknow
Permanent · Lucknow
ASTRAL ADHESIVES ( ASTRAL GROUP )
Astral Adhesives - Area Sales Manager - Construction Chemicals
Permanent · Ludhiana
VADILAL
Area Sales Manager
Permanent · Varanasi
ASTRAL ADHESIVES ( ASTRAL GROUP )
Astral Adhesives - Area Sales Manager (Maintenance Division)
Permanent · Jodhpur
CEASEFIRE INDUSTRIES PRIVATE LIMITED
Area Manager/ Territory Manager (Sales)_ Goa
Permanent · Pune
INDEED.MX
Trabajo Para Mayores de ed+d
Permanent · MEXICO CITY
INDEED.MX
Trabajo Para Mayores de Edad
Permanent · MEXICO CITY
INDEED.MX
Trabajos Opción Home Office
Permanent · MEXICO CITY
INDEED.MX
Secretaria de Medios Tiempos
Permanent · MEXICO CITY
INDEED.MX
Archivista de Medios Tiempos
Permanent · MEXICO CITY
INDEED.MX
Capturista de Medios Tiempos
Permanent · MEXICO CITY
ECL FINANCE LIMITED
Area Sales Manager- Small Ticket Housing Loan
Permanent · Hyderabad
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
AQUAGENICS RESEARCH & DEVELOPMENT INDIA PVT. LTD.
Area Sales Manager
Permanent · Pune
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
Translated by
Nicola Mira
Published
Oct 31, 2019
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

PVH CEO says group is looking to make another acquisition

Translated by
Nicola Mira
Published
Oct 31, 2019

US group PVH is a fashion giant, the owner among others of Calvin Klein and Tommy Hilfiger. In 2018, PVH generated a revenue of over $9.7 billion, equivalent to an 8% increase. And above all, according to its chairman and CEO Emanuel Chirico, PVH is ready to buy new brands.


Emanuel Chirico, CEO of PVH - PVH


“I’ve been CEO for 14 years and we’ve done three major acquisitions: Calvin Klein, Tommy Hilfiger and the Warnaco Group, which owns the Calvin Klein Jeans and Underwear licenses. Currently, we’ve paid all the debts associated with these acquisitions,” said Chirico talking to Bloomberg TV on Wednesday, adding that “we are looking to make another acquisition. We’re looking at a brand, or portfolio of brands, that we can layer on to our operating platform. We are looking for a company that has a strong brand portfolio and a great workforce that can come together with ours.”

The kind of acquisition that could be worth billions of dollars, as Warnaco’s was, but which doesn't seem to faze Chirico. “Given valuations in the apparel and retail sectors, which have been under pressure in the last few months, I think that, for a strategic buyer, this is a great time to be looking at acquisitions and potentially making an acquisition.”

On another topic, PVH’s latest quarterly figures reflected the group’s concern about the trade war between the USA and China. The group revised its guidance downwards and also underlined it had imported approximately $400 million (€361 million) worth of Chinese products last year, and that the new customs duties could slice approximately 20 cents per share off its profitability for the 2019 financial year.

Chirico stated that the group has cut the share of its production that comes from China to the US market: “If you look back to three to four years ago, probably 35% of our production for the US was coming out of China. For next year, we’re looking at something that’s closer to 10%.” Chirico didn't however rule out the possibility of raising the price of certain products to compensate for inflationary pressures. But another aspect of the commercial tensions between China and the USA seems to be worrying Chirico.

Risk of damaging relationship with Chinese consumers



“Everyone is focused on tariffs and trade issues, and those are important issues. But I think that we are potentially exposed to the risk of significant damages with Chinese consumers. Consumers in that part of the world love Western brands, and they love American brands. But with this idea of ‘America First’, instead of negotiating behind closed doors we’ve done it on the public square, and I think we’ve created some level of bad will with those consumers, that will put some pressure on American brands in particular. I don’t think it's a long-term issue, but we do have to be concerned about it going forward.”

PVH’s business is strongly anchored in the USA, where in 2018 it generated 46% of its sales, but the group is reorganising itself on the US market. And Asia is a land of opportunities. Tommy Hilfiger, which staged a catwalk show with F1 world champion Lewis Hamilton, has notably been working to boost its appeal in China, engineering double-digit growth in the country in 2018. In PVH's latest financial year, Asia accounted for 12% of the group’s sales.
 

Copyright © 2022 FashionNetwork.com All rights reserved.