PVH Corp. embracing “circularity” to create more sustainable fashion world
Apparel giant PVH Corp., the company behind brands like Calvin Klein, Tommy Hilfiger, Van Heusen, and Speedo, is working to make the fashion world a more sustainable place. Its latest foray into the environmentally friendly came at the end of June, when it announced its participation in three crucial initiatives that are aimed at “accelerating the transition to a sustainable fashion industry based on circular economy principles.” The company says it’s mindful of its responsibilities as a major player in the industry, and sees opportunities to “reduce waste and pollution through collaboration and partnerships.”
PVH Corp.’s share price has appreciated by 27% over the last 12 months
SOURCE: Yahoo Finance
The three initiatives are the Global Fashion Agenda, Fashion for Good, and the Ellen MacArthur Foundation Make Fashion Circular Initiative. PVH says that the mission these three organisations are undertaking is synonymous with its own core values, and it wants to work at creating business models that do them justice. One of the ways in which it intends to do that is through setting circularity targets across all of its businesses.
In a statement, PVH’s chief risk officer, Melanie Steiner, said: “These three organizations are all focused on innovation, collaboration and system change, which is the foundation of our corporate responsibility strategy at PVH. We are excited to work with other leading companies, innovators and stakeholders to support the move to a truly sustainable industry.”
Dominion holds PVH Corp. in its Global Trends Luxury Fund.
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