Introduces Enhanced CR Strategy and Commitments Supporting UN
Sustainable Development Goals
NEW YORK–(BUSINESS WIRE)–PVH Corp. (NYSE:PVH) today released its eighth annual Corporate
Responsibility (CR) report, which features an enhanced global CR
strategy to address social and environmental issues that most affect PVH
and provides an update on the progress on its 2015 initiatives. The
report is available online at http://www.pvh.com/CR.
Chairman and Chief Executive Officer Emanuel Chirico states in the
report, “We believe corporate responsibility helps strengthen our
organization by managing risk, maximizing efficiencies and driving value
in a rapidly changing world. I believe that through our collective
efforts, we can continue to create value for both society and our
PVH’s CR program is structured with 10 commitments across three key
focus areas: empowering people; preserving the environment; and
supporting communities. The strategies support 14 of the UN’s 17
Sustainable Development Goals, covering issues such as building safety,
chemical management, greenhouse gases, inclusion and diversity, and
supporting the needs of women and children. Further, the report places a
strong emphasis on the need to move beyond compliance to achieve
sustainable protection of the rights, dignity and livelihoods of the
nearly one million workers in PVH’s supply chain.
2015 initiatives detailed in the report highlight how PVH is working
with various stakeholders to drive positive impacts around the world.
These include the Global Supply Chain team’s efforts to help create a
“best-in-class” apparel manufacturing industry in Ethiopia; Tommy
Hilfiger partnering with the World Wide Fund for Nature to help
safeguard water resources in the Taihu and Mekong river basins; Speedo
partnering with Italian yarn maker Aquafil and Chinese supplier Parawin
to transform nylon factory remnants into new swimsuits; and PVH’s role
as the “lead” brand owner for the Accord on Fire and Building Safety in
Bangladesh in all factories where the Company has production.
In addition to these external partnerships, the Company continues to
drive internal efforts on CR, including calculating for the first time
greenhouse gas emissions at all of its facilities and inclusion and
diversity initiatives focused on providing an inclusive environment
where every individual is valued. 2015 also saw the global launch of PVH
University online to expand learning and development opportunities for
the 9,000 office-based associates.
PVH’s 2015 Corporate Responsibility Report was developed in accordance
with the Global Reporting Initiative (GRI) G4 Guidelines, an
international framework that is widely used by organizations to report
on their CR and sustainability performance. For more information on GRI,
About PVH Corp.
With a history going back over 130 years, PVH Corp. has excelled at
growing brands and businesses with rich American heritages, becoming one
of the largest apparel companies in the world. We have over 30,000
associates operating in over 40 countries with over $8 billion in
revenues. We own the iconic Calvin Klein, Tommy Hilfiger, Van
Heusen, IZOD, ARROW, Speedo*, Warner’s and Olga brands
and market a variety of goods under these and other nationally and
internationally known owned and licensed brands.
*The Speedo brand is licensed for North America and the Caribbean in
perpetuity from Speedo International, Ltd.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: Forward-looking statements in this press release, including,
without limitation, statements relating to its plans, strategies,
objectives, expectations and intentions are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward-looking statements are
inherently subject to risks and uncertainties, many of which cannot be
predicted with accuracy, and some of which might not be anticipated,
including, without limitation: (i) the Company’s plans, strategies,
objectives, expectations and intentions are subject to change at any
time at the discretion of the Company; (ii) the Company may be
considered to be highly leveraged and uses a significant portion of its
cash flows to service its indebtedness, as a result of which the Company
might not have sufficient funds to operate in the manner it intends or
has operated in the past; and (iii) other risks and uncertainties
indicated from time to time in the Company’s filings with the Securities
and Exchange Commission.
The Company does not undertake any obligation to update publicly any
forward-looking statement, whether as a result of the receipt of new
information, future events or otherwise.