PVH CORP. AIMS TO STRENGTHEN ONLINE BUSINESS WITH ACQUISITION OF TRUE&CO
PVH Corp. has entered into an agreement to acquire True&Co., a direct-to-consumer intimate apparel e-commerce retailer.
This acquisition will enable PVH to further participate in the fast growing online channel and provides a platform to increase innovation, data driven-decisions and speed in the way it serves its consumers across its channels. The terms of the transaction were not disclosed.
“Today’s announcement illustrates our commitment to driving innovation across our business and demonstrates our commitment to making strategic investments in our digital platforms to support our long-term growth initiatives,” said Emanuel Chirico, chairman and chief executive officer, PVH Corp. “We believe that we can leverage the analytics tools of this data-driven company, while leveraging PVH’s intimates category expertise, including global brand management, product know-how and supply chain.”
“Five years ago, I founded True&Co. to change the way women shop for intimate apparel,” added Michelle Lam, co-founder of True&Co. “In PVH, we have a strategic partner who can help us bring this change to as many customers as possible. We look forward to joining PVH’s portfolio of brands and to help drive growth initiatives for PVH’s other brands.”
