The American company, one of the international giants of the fashion industry, has already payed all its debt after its latest acquisitions.
PVH is ready to buy more. The company, which in the last decade and a half has acquired Tommy Hilfiger, Calvin Klein and Warnaco, is ready for more corporate operations and it’s in the search of new acquisitions.
As explained by Emanuel Chirico, chief executive officer of PVH, to Bloomberg TV, the company has already payed all the debts of these three acquisitions. “we are looking to make another acquisition, Chirico said; we’re looking at a brand, or portfolio of brands, that we can layer on to our operating platform.”
“Given valuations in the apparel and retail sectors, which have been under pressure in the last few months, I think that, for a strategic buyer, this is a great time to be looking at acquisitions and potentially making an acquisition,” Chirico explained.
On the other hand, the executive also pointed out that the company has rearranged its supply chain as a result of the trade war between the United States and China, the group revised its guidance downwards in its purchases in the Asian giant. “If you look back to three to four years ago, probably 35% of our production for the US was coming out of China. For next year, we’re looking at something that’s closer to 10%.”
The American company ended its fiscal year 2018 with a net profit increase of 38%, to 744.6 million dollars (661.2 million euros). On the other hand, company’s sales reached 9.1 billion dollars (8,148 million euros), 8% more.