Stefan Larsson, chief executive officer of PVH Corp., says he has two mega American brands in Tommy Hilfiger and Calvin Klein. And now, after serving a year as the group’s CEO, he has laid out his master plan.
In an interview with WWD after the company’s first analyst meeting in more than a decade on Wednesday, Larsson described the sku rationalization as an “ongoing process.
The plan includes elements from Larsson’s time at H&M as well as his stints as global president of Old Navy and as CEO at Ralph Lauren. “We know that our job in the Americas is to unlock the business,” Larsson said, acknowledging that investors have been asking just how the company plans to do this. Investors seemed willing to give PVH that time and gave Larsson’s plan the thumbs up, driving shares of the company up 5.4 percent to $80.70, for a market capitalization of $5.5 billion.
As CEO, Larsson has focused the business on those two main brands, having exited the Heritage Brands business, centering PVH on its strengths. So the idea is to build and improve on the company’s iconic brands by sharpening product and marketing, amping up digital and focusing in on fewer skus, highlighting what makes the brands special.
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