Dive Brief:
-
PVH Corp. on Wednesday said that Trish Donnelly, previously chief executive officer of Urban Outfitters Group, will take the newly created job of chief executive officer of PVH Americas on Feb. 16.
-
Reporting to CEO Stefan Larsson, Donnelly will oversee the Calvin Klein, Tommy Hilfiger and Heritage Brands businesses in the Americas and the Calvin Klein brand globally, according to a company press release.
-
She spent seven years with Urban Outfitters. Before that she spent seven years as an executive at J. Crew Group and over a decade at Ralph Lauren, and held senior leadership positions at Steven Alan and Cole Haan.
Dive Insight:
Creating this new role and enticing Donnelly to fill it is the latest maneuver in PVH's recent effort to streamline and strengthen its business.
Last year, the apparel conglomerate decided to close all its Heritage Brands brick-and-mortar stores, leaving those brands (which include Izod, Van Heusen, Warner's, Arrow, Olga, Geoffrey Beene and True&Co.) to sell only online or via wholesale. At the time the company also announced it would cut 450 positions or 12% of its workforce, in a campaign to save $80 million annually.
The arrival of Donnelly is a more positive step. MKM Partners Managing Director Roxanne Meyer last month noted that her departure from Urban Outfitters presented "an incremental risk" to that company. In a statement on Wednesday, Larsson said her arrival "will further complement the very strong regional leadership we already have in place for Europe and Asia, and help us unlock substantial growth opportunities," and praised her "inclusive leadership style."
PVH has some advantages as it anticipates the post-pandemic era. Morgan Stanley analysts last month said that brands, like Levi's, Nike and those at PVH, have an advantage over many retailers that sell less differentiated apparel. Those analysts also noted PVH's potential to bounce back internationally, grow e-commerce, expand gross margins, refine its supply chain and continue cost cuts, which could boost profits to pre-pandemic levels.
