Designer apparel maker PVH Corp, formerly known as Phillips-Van Heusen, is looking to step up its expansion on the mainland after the United States-based company swung to a profit in the second quarter.
'It's clearly a market that we could see very accelerated growth,' PVH chairman and chief executive Emanuel Chirico told analysts in a conference call yesterday.
The firm's Tommy Hilfiger label, which it acquired for US$3 billion in stock and cash in March last year, is expected to drive that growth. Tommy Hilfiger includes high-quality menswear, women's wear, children's apparel and denim collections.
Describing the brand as 'underdeveloped' on the mainland, Chirico said the size of the business was between US$40 million and US$50 million.
The appointment of John Ermatinger as Tommy Hilfiger's chief executive for Asia in July will help push development initiatives in the region, particularly on the mainland, Chirico said. Ermatinger was previously the president of Gap Asia-Pacific.
'We will continue to make investments in that market,' he said, noting Ermatinger's enthusiasm for expanding on the mainland. ' We'll start to report the results for China beginning in the third quarter this year.'