Businessweek

PVH Corp. operates as an apparel company. The company designs and markets branded dress shirts, neckwear, sportswear, and footwear and other related products. Additionally, the company licenses its owned brands over a range of products. The company’s brand portfolio consists of brand names, including the Calvin Klein and Tommy Hilfiger, as well as Van Heusen, IZOD, Bass, ARROW and Eagle, which are owned brands; and Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, JOE Joseph Abboud, MICHAEL Michael Kors, Michael Kors Collection, Chaps, Donald J. Trump Signature Collection, DKNY, Elie Tahari, Nautica, Ted Baker, J. Garcia, Claiborne, Robert Graham, U.S. POLO ASSN., Ike Behar, Axcess, Jones New York and John Varvatos, which are licensed, as well as various other licensed and private label brands. During 2012, its directly operated businesses in North America (United States and Canada) consisted principally of wholesale dress furnishings sales under its owned and licensed brands; wholesale men’s sportswear sales under its Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD and ARROW brands; and the operation of retail stores, principally in outlet malls, under its Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD and Bass brands. During 2012, its directly operated businesses outside of North America consisted principally of its Tommy Hilfiger International wholesale and retail businesses in Europe and Japan and its Calvin Klein dress furnishings and wholesale Calvin Klein Collection businesses in Europe. The company’s licensing activities principally related to the licensing worldwide of its Calvin Klein trademark for a range of lifestyle products and for specific geographic regions. Segments During 2012, the company aggregated its segments into three main businesses: Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments; Calvin Klein, which consists of the Calvin Klein Licensing segment (including its Calvin Klein Collection business, which the company operates directly in support of the global licensing of the Calvin Klein brands) and the Other (Calvin Klein Apparel) segment, which consists of its Calvin Klein dress furnishings, sportswear and outlet retail divisions in North America; and Heritage Brands, which consists of the Heritage Brand Wholesale Dress Furnishings, Heritage Brand Wholesale Sportswear and Heritage Brand Retail segments. Calvin Klein Business During 2012, the Calvin Klein business included licensing and similar arrangements worldwide for use of the Calvin Klein brands in connection with an array of products, including jeans, underwear, women’s dresses and suits, men’s tailored clothing, women’s sportswear and performance apparel, men’s and women’s bridge, collection and golf apparel, fragrances, eyewear, hosiery, socks, footwear, swimwear, jewelry, watches, outerwear, handbags, small leather goods and home furnishings (including furniture), as well as to operate retail stores outside North America; the marketing of the Calvin Klein Collection brand high-end men’s and women’s apparel and accessories collections through its Calvin Klein Collection flagship store located in New York City and its Calvin Klein Collection wholesale business; together constituting its Calvin Klein Licensing segment); and its wholesale Calvin Klein dress furnishings and men’s better sportswear businesses, which operate principally in the United States and Canada, and its Calvin Klein outlet retail business (these businesses collectively constituting its Other (Calvin Klein Apparel) segment). The company’s Calvin Klein men’s dress shirts, neckwear and sportswear target the modern classical consumer, are marketed at better price points and are distributed principally in better fashion department and specialty stores in North America, including Macy’s and Dillard’s, Inc. The company also offers its Calvin Klein Collection and ck Calvin Klein dress shirts to the more limited channel of luxury department and specialty stores, as well as through freestanding Calvin Klein Collection and ck Calvin Klein stores operated by Warnaco and others. The