Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. (NYSE:PVH), today announced the appointment of Frank Cancelloni as the President of Calvin Klein Asia Pacific, effective December 4, 2013. Based in Calvin Klein, Inc.’s Asian headquarters in Hong Kong, Mr. Cancelloni will be responsible for developing corporate strategies for the Asia Pacific region, focusing on strengthening alignment and coordination with the company’s global initiatives for the brand, operations and licensing. He will also drive the organization’s continued growth in this important region. Mr. Cancelloni will report to Steve Shiffman, President & Chief Commercial Officer of Calvin Klein, Inc. “We are pleased to have an industry expert like Frank join our company to fill this important position,” said Tom Murry, Chief Executive Officer, Calvin Klein, Inc. “With his extensive experience and background, we are confident Frank will successfully lead our teams in the region and further accelerate our growth. This is also an opportunity to build upon the established operations, and supplement talent in the region, to better capture market share and expansion potential in these high growth markets.” “ Calvin Klein is an exceptional brand and company that I have long admired for its rich heritage,” said Mr. Cancelloni. “I am excited to have the opportunity to further drive the next stage of growth for the Calvin Klein brand in Asia.” Mr. Cancelloni joins the company from Devanlay, the global apparel and leather goods licensee of Lacoste, where he was the Chief Executive Officer of Asia Pacific for the last five years. Originally from France, Mr. Cancelloni has lived and worked in Asia for over 20 years. He brings with him deep market knowledge in fashion apparel, retail, licensing and distribution, having managed businesses in over 13 countries, including operations in North and South Asia, as well as Australia and India. Prior to Devanlay, Mr. Cancelloni worked at VF Asia Ltd., American Household (formerly Sunbeam Corp.) and Saint-Gobain. Mr. Cancelloni is a graduate of ISG (Institut Supérieur de Gestion) in Paris, one of the leading French business schools. Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women’s and men’s designer collection apparel and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. Product lines under the various Calvin Klein brands include women’s dresses and suits, men's dress furnishings and tailored clothing, men’s and women's sportswear and bridge and collection apparel, golf apparel, jeanswear, underwear, fragrances, eyewear, women’s performance apparel, hosiery, socks, footwear, swimwear, jewelry, watches, outerwear, handbags, small leather goods, and home furnishings (including furniture). For more information, please visit calvinklein.com. PVH Corp., one of the world’s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the world’s largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass, G.H. Bass & Co., Warner’s and Olga, and its licensed brands, including Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos.
PVH CORP. 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 the Company’s future 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, the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) in connection with the acquisition of The Warnaco Group, Inc. (“Warnaco”), the Company borrowed significant amounts, may be considered to be highly leveraged, and will have to use a significant portion of its cash flows to service such indebtedness, as a result of which the Company might not have sufficient funds to operate its businesses in the manner it intends or has operated in the past; (iii) the levels of sales of the Company’s apparel, footwear and related products, both to its wholesale customers and in its retail stores, the levels of sales of the Company’s licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company and its licensees and other business partners are required to engage, all of which can be affected by weather conditions, changes in the economy, fuel prices, reductions in travel, fashion trends, consolidations, repositionings and bankruptcies in the retail industries, repositionings of brands by the Company’s licensors and other factors; (iv) the Company’s plans and results of operations will be affected by the Company’s ability to manage its growth and inventory, including the Company’s ability to realize benefits from Warnaco; (v) the Company’s operations and results could be affected by quota restrictions and the imposition of safeguard controls (which, among other things, could limit the Company’s ability to produce products in cost-effective countries that have the labor and technical expertise needed), the availability and cost of raw materials, the Company’s ability to adjust timely to changes in trade regulations and the migration and development of manufacturers (which can affect where the Company’s products can best be produced), changes in available factory and shipping capacity, wage and shipping cost escalation, and civil conflict, war or terrorist acts, the threat of any of the foregoing, or political and labor instability in any of the countries where the Company’s or its licensees’ or other business partners’ products are sold, produced or are planned to be sold or produced; (vi) disease epidemics and health related concerns, which could result in closed factories, reduced workforces, scarcity of raw materials and scrutiny or embargoing of goods produced in infected areas, as well as reduced consumer traffic and purchasing, as consumers become ill or limit or cease shopping in order to avoid exposure; (vii) acquisitions and issues arising with acquisitions and proposed transactions, including, without limitation, the ability to integrate an acquired entity, such as Warnaco, into the Company with no substantial adverse effect on the acquired entity’s or the Company’s existing operations, employee relationships, vendor relationships, customer relationships or financial performance; (viii) the failure of the Company’s licensees to market successfully licensed products or to preserve the value of the Company’s brands, or their misuse of the Company’s brands; and (ix) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). 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.