PVH owns various brands including CALVIN KLEIN, TOMMY HILFIGER, Van Heusen and more. Credit: Mike Mozart.

US fashion and lifestyle company PVH has revealed its plan to reduce its North America office workforce by around 450 positions or 12%.

The reductions will be across all three brand businesses and corporate functions.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

PVH’s brand portfolio includes CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True&Co intimates brand.

The move is part of the company’s plans to streamline its North American operations and to adapt to the changing retail landscape.

Under this restructuring, the company plans to shut its 162 Heritage Brands Retail outlet stores. These stores are expected to operate until mid-2021.

It is expected to generate an annual cost savings of approximately $8m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

PVH chairman and CEO Manny Chirico said: “The structural changes occurring in the North American retail landscape have required us to take a hard look at our North American operations and identify where we can optimise costs across our business model.

“As a result, we are making the incredibly difficult decisions to close our Heritage Brands Retail business and eliminate a significant number of positions throughout our North American organisation to align with the lower revenue base.

“We did not take these decisions lightly, as our Heritage Brands Retail business is our oldest retail business yet no longer met appropriate return metrics.”

In January, PVH Corp agreed to divest its Speedo North America business to Speedo International’s parent company Pentland in a deal valued at $170m.

It employs more than 40,000 associates in over 40 countries.