Sophia Hwang-Judiesch Appointed President,
Tommy Hilfiger North America
Amba Subrahmanyam Promoted to Chief People
Officer
PVH Corp. [NYSE: PVH] today announced the appointment of Sophia
Hwang-Judiesch as the President of Tommy Hilfiger North America.
She joins the company on January 8, 2024 and will report to Stefan
Larsson, CEO of PVH. The company also announced today that Amba
Subrahmanyam will be promoted to Chief People Officer at PVH. Both
leaders will join PVH’s executive leadership team and
Hwang-Judiesch will also become a key member of the global TOMMY
HILFIGER leadership team.
Hwang-Judiesch is a highly experienced industry leader
recognized for driving brand and market growth at leading
omnichannel brands including Ulta Beauty, Carter’s Oshkosh and
Esprit, where she consistently delivered improved revenue
performance and profitability in key global markets. Hwang-Judiesch
joins PVH and TOMMY HILFIGER from Hudson’s Bay, where, as
President, she was responsible for the company’s retail stores in
Canada and oversaw a robust omnichannel optimization strategy to
elevate the consumer experience. Before joining Hudson’s Bay, she
was vice president of strategic initiatives at Ulta Beauty, where
she led the partnership and launch of Ulta Beauty@Target.
Mr. Larsson said, “I am thrilled Sophia is joining us to unlock
the full potential of the Tommy Hilfiger business in North America.
Sophia’s proven track record of driving profitable, omnichannel
growth and enhancing the brand experience at every touch point will
be critical as we get closer to consumers than ever before. With
Sophia leading Tommy Hilfiger North America and Donald Kohler
leading Calvin Klein North America, we now have the leadership
strength in place for the North America unlock of both brands.”
Hwang-Judiesch said, “I am excited to be joining this incredible
team to drive long-term growth and value creation for the TOMMY
HILFIGER brand in North America. The opportunity to lead this
iconic brand in the region is an honor, and I look forward to
working closely with the global leadership team as we make the
TOMMY HILFIGER brand more desirable in the market than ever
before.”
The company also announced today the promotion of Amba
Subrahmanyam to Chief People Officer. Subrahmanyam joined PVH in
February 2022 and currently serves as Executive Vice President of
People for PVH Americas and Calvin Klein Global. Prior to PVH,
Subrahmanyam held HR leadership roles at Tapestry, Tory Burch and
Coach. She succeeds Julie Fuller, who joined the company in 2020
and is leaving PVH to pursue other opportunities. This succession
will be effective February 5, 2024, to allow time for a seamless
transition.
Mr. Larsson said, “Amba is one of the key leaders behind the
transformation of Calvin Klein and the early unlock of our North
America business. She is known for combining her strong people
focus, deep industry knowledge and business acumen to help grow
people and brands. Amba’s proven experience supporting one of our
biggest businesses, combined with the strong relationships and
trust she’s built with our key global leaders, will help her hit
the ground running. I want to congratulate Amba for this exciting
opportunity and look forward to welcoming her to the leadership
team.”
Mr. Larsson added, “I would also like to thank Julie for her
dedication to our global associates, especially when navigating the
unprecedented challenges we all faced during the pandemic. I have
valued her leadership and partnership in establishing and building
out the PVH+ Plan, and most importantly, in helping to build the
very strong leadership team and global organization to execute it.
I wish her every success in her next chapter.”
Subrahmanyam commented, “I am thrilled for the opportunity to
partner with Stefan and the leadership team to engage, empower and
energize our talented team as we work together to execute the PVH+
Plan. We are evolving our culture to become one of the best brand
builders, and we will do it in an entrepreneurial way, supported by
our strengths as one of the biggest global fashion groups.”
About PVH Corp.
PVH is one of the world’s largest and most admired fashion
companies, connecting with consumers in over 40 countries. Our
global iconic brands include Calvin Klein and TOMMY HILFIGER. Our
140-year history is built on the strength of our brands, our team
and our commitment to drive fashion forward for good. That’s the
Power of Us. That’s the Power of PVH.
Follow us on Facebook, Instagram, Twitter and LinkedIn.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Forward-looking statements in this press
release and made during the conference call/webcast, 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 headcount cost reduction initiative announced in August
2022, the 2021 sale of assets of, and exit from, its Heritage
Brands menswear and retail businesses, and the November 2023 sale
of the Heritage Brands women’s intimate apparel business to focus
on its Calvin Klein and Tommy Hilfiger businesses; (iii) the
ability to realize the intended benefits from the acquisition of
licensees or the reversion of licensed rights (such as the
announced plan to bring in-house most of the product categories
currently licensed to G-III Apparel Group, Ltd. upon the
expirations over time of the underlying license agreements) and
avoid any disruptions in the businesses during the transition from
operation by the licensee to the direct operation by us; (iv) the
Company has significant levels of outstanding debt and borrowing
capacity and uses a significant portion of its cash flows to
service its indebtedness, as a result of which the Company might
not have sufficient funds to operate its businesses in the manner
it intends or has operated in the past; (v) the levels of sales of
the Company’s apparel, footwear and related products, both to its
wholesale customers and in its retail stores and its directly
operated digital commerce sites, the levels of sales of the
Company’s licensees at wholesale and retail, and the extent of
discounts and promotional pricing in which the Company and its
licensees and other business partners are required to engage, all
of which can be affected by weather conditions, changes in the
economy (including inflationary pressures like those currently
being seen globally), fuel prices, reductions in travel, fashion
trends, consolidations, repositionings and bankruptcies in the
retail industries, consumer sentiment and other factors; (vi) the
Company’s ability to manage its growth and inventory; (vii) quota
restrictions, the imposition of safeguard controls and the
imposition of new or increased duties or tariffs on goods from the
countries where the Company or its licensees produce goods under
its trademarks, any of which, among other things, could limit the
ability to produce products in cost-effective countries, or in
countries that have the labor and technical expertise needed, or
require the Company to absorb costs or try to pass costs onto
consumers, which could materially impact the Company’s revenue and
profitability; (viii) the availability and cost of raw materials;
(ix) the Company’s ability to adjust timely to changes in trade
regulations and the migration and development of manufacturers
(which can affect where the Company’s products can best be
produced); (x) the regulation or prohibition of the transaction of
business with specific individuals or entities and their affiliates
or goods manufactured in (or containing raw materials or components
from) certain regions, such as the listing of a person or entity as
a Specially Designated National or Blocked Person by the U.S.
Department of the Treasury’s Office of Foreign Assets Control and
the issuance of Withhold Release Orders by the U.S. Customs and
Border Protection; (xi) changes in available factory and shipping
capacity, wage and shipping cost escalation, and store closures in
any of the countries where the Company’s or its licensees’ or
wholesale customers’ or other business partners’ stores are located
or products are sold or produced or are planned to be sold or
produced, as a result of civil conflict, war or terrorist acts, the
threat of any of the foregoing, or political or labor instability,
such as the current war in Ukraine that led to the Company’s exit
from its retail business in Russia and the cessation of its
wholesale operations in Russia and Belarus, and the temporary
cessation of business by many of its business partners in Ukraine;
(xii) disease epidemics and health-related concerns, such as the
recent COVID-19 pandemic, which could result in (and, in the case
of the COVID-19 pandemic, did result in some of the following)
supply-chain disruptions due to closed factories, reduced
workforces and production capacity, shipping delays, container and
trucker shortages, port congestion and other logistics problems,
closed stores, and reduced consumer traffic and purchasing, or
governments implement mandatory business closures, travel
restrictions or the like, and market or other changes that could
result in shortages of inventory available to be delivered to the
Company’s stores and customers, order cancellations and lost sales,
as well as in noncash impairments of the Company’s goodwill and
other intangible assets, operating lease right-of-use assets, and
property, plant and equipment; (xiii) actions taken towards
sustainability and social and environmental responsibility as part
of the Company’s sustainability and social and environmental
strategy may not be achieved or may be perceived to be falsely
claimed, which could diminish consumer trust in the Company’s
brands, as well as the Company’s brands’ value; (xiv) the failure
of the Company’s licensees to market successfully licensed products
or to preserve the value of the Company’s brands, or their misuse
of the Company’s brands; (xv) significant fluctuations of the U.S.
dollar against foreign currencies in which the Company transacts
significant levels of business; (xvi) the Company’s retirement plan
expenses recorded throughout the year are calculated using
actuarial valuations that incorporate assumptions and estimates
about financial market, economic and demographic conditions, and
differences between estimated and actual results give rise to gains
and losses, which can be significant, that are recorded immediately
in earnings, generally in the fourth quarter of the year; (xvii)
the impact of new and revised tax legislation and regulations; and
(xviii) other risks and uncertainties indicated from time to time
in the Company’s filings with the Securities and Exchange
Commission.
The Company does not undertake any obligation to update publicly
any forward-looking statement made in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213830198/en/
Investor Contact: Sheryl Freeman
investorrelations@pvh.com
Media Contact: communications@pvh.com
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