PVH Corp has announced the extension of most of its licensing agreements with brands under the G-III Apparel Group.
The extension pertains to Calvin Klein and Tommy Hilfiger in the US and Canada, and largely covers the brands’ women’s North American wholesale businesses.
The agreement moves the group’s licence expiry date from 2025 to 2027.
It comes as PVH looks to bring its core product categories in-house, a plan it said is being implemented alongside G-III over the next several years to ensure a smooth transition.
In a release, the group’s chief executive officer, Stefan Larsson, said the strategy was an important step of its multi-year strategic growth plan, ‘PVH+ Plan’, which strives to “unlock the full potential” of the two brands in the North American market.
Larsson continued: “By bringing these core product categories in-house over time, we will be able to draw on the power and expertise of our global brand teams and have them fully connected to the demand driven supply chain we are developing.”
According to PVH’s chief financial officer, Zac Coughlin, these core product categories represent approximately one-third of the group’s global licensing revenue, and less than 10 percent of its consolidated EBIT in 2021.