PVH Corp. Releases 14th Annual Corporate Responsibility Report

Rhea-AI Summary

PVH Corp. (NYSE:PVH) has released its 2021 Corporate Responsibility (CR) report, highlighting advancements in its Forward Fashion strategy while navigating a challenging global environment. The report reveals a 50% increase in sustainable products for Calvin Klein and significant sustainability efforts from TOMMY HILFIGER. The company reports that for the first time, the majority of energy consumed came from renewable sources. The report also emphasizes enhanced transparency with stakeholders, showcasing a commitment to social responsibility and environmental impact.

Positive

• 50% increase in sustainable Calvin Klein products compared to 2020.
• Two-thirds of TOMMY HILFIGER collections included sustainably-sourced materials.
• One-third of packaging was manufactured from recycled materials, up from 0% in 2019.
• Majority of energy consumption now from renewable sources.
• Exceeded target by supporting 135,000 individuals worldwide through education and resources.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- PVH Corp. (NYSE:PVH), the growth platform for Calvin Klein and TOMMY HILFIGER, published today its 2021 Corporate Responsibility (CR) report. PVH continues to collaborate with peers and partners to make progress on the company’s Forward Fashion strategy, while continuing to navigate an increasingly challenging global environment.

“While the operating environment around us changed dramatically due to the pandemic, our commitment to move our business and the fashion industry toward a more innovative and responsible future remained steadfast,” said Stefan Larsson, PVH Corp. Chief Executive Officer. “Forward Fashion, our global corporate responsibility strategy, continues to be our roadmap for making a positive impact.”

PVH is committed to continue driving meaningful and impactful change within the organization and across the apparel industry as part of the company’s purpose to drive fashion forward for good.

"We’re excited for the hard work ahead because much more progress is needed to achieve our Forward Fashion ambitions. We understand and recognize our responsibility to make a positive impact for both our stakeholders and our industry,” said Rick Relinger, PVH Corp. Chief Sustainability Officer.

This year’s report chronicles notable progress against PVH’s Forward Fashion commitments and also displays improvements on how and what the company reported.

PVH increased its delivery of sustainable products to consumers

• Globally, increased by 50% the number of Calvin Klein products that used sustainable materials as compared to 2020.
• Two-thirds of TOMMY HILFIGER collections included products incorporating sustainably-sourced materials, including recycled and organic materials.
• One-third of the consumer packaging for products was manufactured using recycled materials, up from 0% in 2019.

PVH advanced climate action and human rights across the value chain

• For the first time, the majority of energy consumption came from the use and support of renewable sources.
• Became a founding member of the International Accord for Health and Safety in the Textile and Garment Industry.
• Collaborated with fashion industry peers to launch The Resilience Fund for Women in Global Value Chains and the Power of Nutrition; expanded existing career advancement programs to support the women who make up the majority of PVH’s supply chain workforce.
• Exceeded target to support 135,000 individuals worldwide through education services, resources and trainings.
• Partnered with the Apparel Impact Institute to implement a new Carbon Leadership Program to tackle supply chain emissions using a standardized industry approach.

PVH increased transparency to stakeholders

• Reported quantitative progress toward PVH’s Forward Fashion targets for the first time and included new Governance and Data Appendix sections.
• Shared the results of a new materiality assessment that identified the issues a range of stakeholders view as being of greatest importance to PVH and its business.

Click here to read the full report.

About PVH Corp.

PVH is the growth platform for Calvin Klein and TOMMY HILFIGER. Through driving brand strength and relevance, we are connecting our global, iconic brands closer to where the consumer is going than ever before, today and with future generations. Guided by our values and enabled by our scale and global reach, we are driving fashion forward for good, as one team with one vision and one plan. That’s the Power of Us. That’s the Power of PVH.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220808005389/en/

Hannah Rubin

communications@pvh.com

Source: PVH Corp.

FAQ

What are the highlights of PVH Corp.'s 2021 Corporate Responsibility report?

PVH Corp.'s 2021 CR report emphasizes a 50% increase in sustainable products for Calvin Klein and highlights two-thirds of TOMMY HILFIGER collections incorporating sustainably-sourced materials.

How did PVH improve its sustainability practices in 2021?

PVH improved its sustainability by increasing the use of renewable energy sources, using recycled materials for one-third of packaging, and becoming a founding member of the International Accord for Health and Safety.

What is the Forward Fashion strategy by PVH Corp.?

The Forward Fashion strategy aims to drive meaningful change in the fashion industry towards sustainability and responsible practices.

How many individuals did PVH support through its initiatives?

PVH exceeded its target by supporting 135,000 individuals worldwide through education services and resources.