PVH Corp partners with Plug and Play
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PVH Corp partners with Plug and Play

PVH Corp, owner of Calvin Klein, Tommy Hilfiger, Speedo, and more, is partnering with global innovation platform Plug and Play. According to a press release, this partnership will “help PVH continue to drive ongoing strategic growth initiatives related to supply chain, technology, digital capabilities and consumer-centricity.” It’s a bold step forward for a massive company that has brought the world some of its best-loved brands for more than 135 years.

PVH Corp’s share price has appreciated by 17% so far this year

graph 31 pvh

Source: Yahoo Finance

Plug and Play brings the world’s “best start-ups” to big businesses around the globe, and offers engagement through a number of “verticals”. The verticals that PVH Corp will engage with are Brand & Retail, and Supply Chain & Logistics. The corporation will be looking to work with start-ups that can help it to “foster ongoing strategic growth initiatives” and “explore potential innovative solutions for the future.

Mike Schaffer, PVH Corp’s chief operating & financial officer and executive vice president, said: “Partnering with Plug and Play is an important next step for PVH as we continually look for ways to deliver on our commitment to meet the ever-evolving needs of our consumers. With access to ideas, investors and new partners, we're excited to leverage Plug and Play's network to drive innovative solutions that will support our business goals.”

Michael Olmstead, Plug and Play’s chief revenue officer, added: “PVH brings a fresh new perspective to our Supply Chain & Logistics and Brand & Retail programs. We are thrilled to see how their portfolio of iconic brands will tap into our suite of start-ups and their technologies.”

Disclosure

Dominion holds PVH Corp in its Global Trends Luxury Fund.


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