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 business.”
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, visit http://www.globalreporting.org/.
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.