Tommy Hilfiger Drives PVH's Strong Q3 Growth
PVH, the parent company of Tommy Hilfiger, has reported strong growth in the first three quarters of the year, with Tommy Hilfiger leading the charge. The brand, acquired by PVH from Apax Partners in 2010 for $3,000 million, accounted for 88% of the growth registered during this period.
PVH's total profit increased by 12% and sales rose by 9% in the first watch quarter of the fiscal year. The company's revenue for the first nine months of the year reached $4,358 million (€3,237 million), marking a 34.5% increase from the same period last year.
Tommy Hilfiger's sales grew by a notable 17% during the quarter, outpacing other PVH brands. Heritage Brands, however, saw a 2% reduction in sales. Calvin Klein also contributed to the growth, with a 11% increase in sales.
PVH's strong performance in the first three quarters of the year can largely be attributed to the robust growth of Tommy Hilfiger. The brand's continued success since its acquisition in 2010 has proven to be a significant driver of PVH's overall growth and profitability.
