PVH Corp. to License Tommy Hilfiger Men’s Tailored Clothing Business for North America to Peerless

NEW YORK–(BUSINESS WIRE)–$pvh #fashion—PVH
Corp. [NYSE:PVH] announced today that its Tommy Hilfiger Licensing
LLC subsidiary has entered into a license agreement with Peerless
Clothing International, Inc. for the Tommy
Hilfiger men’s tailored clothing business for North America
beginning January 1, 2018. The business is currently operated by
Marcraft Clothes, Inc. PVH is moving the license to Peerless in order to
consolidate the North America men’s tailored businesses for all of its
brands under one partner. In connection therewith, the terms of all the
licenses were amended to run through at least December 31, 2022. No
other terms were disclosed.

Emanuel Chirico, Chairman and CEO of PVH said, “We have had a
long-standing and successful relationship with Peerless, which has been
the licensee for our Calvin Klein, Van Heusen, and IZOD
brands for several years. We believe it best serves the needs of our
Company and brands to have all of the men’s tailored businesses under
the direction of one partner and that Peerless is well-positioned to
build upon the success to date of the Tommy Hilfiger men’s tailored
clothing business.”

Alvin Segal, Chairman and CEO of Peerless Clothing International said,
“We are pleased and honored that PVH has chosen to have Peerless as its
licensee in North America for all its brands for men’s tailored
clothing.”

“We are excited to expand our relationship with PVH to include the Tommy
Hilfiger brand,” added Ronny Wurtzburger, President, Peerless
Clothing International. “We believe that the brand’s rich American
heritage and preppy with a twist designs will be a great addition to our
offerings under PVH’s brands and will allow us to better serve all of
PVH’s businesses and consumer tastes.”

About PVH Corp.

With a history going back over 130 years, PVH 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 and over $8 billion in annual
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, Limited.

About Peerless Clothing International, Inc.

Peerless Clothing, founded in 1919, is the largest manufacturer and
distributor of tailored clothing in North America. Peerless’ range of
products includes suits, suit separates, sport coats, dress pants,
tuxedos, overcoats, and raincoats for both men and boys.

PVH CORP. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Forward-looking statements made in this press
release, including, without limitation, statements relating to PVH
Corp.’s future earnings, 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, including that the Company may
not conclude the intended purchase from Marcraft Clothes, Inc. or
consolidate the men’s tailored businesses under its brands in North
America; (ii) 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’s 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, and other factors; (iii) 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 licensees’ or
other business partners’ products are sold, produced or are planned to
be sold or produced; (iv) 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
limit or cease shopping in order to avoid exposure or become ill; (v)
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 (vi) 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.

Contacts

PVH Corp.
Dana Perlman, 212-381-3502
Treasurer and Senior Vice
President, Business Development and Investor Relations
investorrelations@pvh.com