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PVH Inks Licensing Deal With Nike to Make Men’s Underwear

PVH Corp. has entered into a licensing agreement with Nike Inc. for the design, sourcing, marketing and worldwide distribution of Nike-branded men’s underwear.

Nike branded men’s underwear will be produced by PVH’s Center of Excellence for Underwear, an innovative platform meant to drive efficiencies across the company’s supply chain by sharing best practices and leveraging core competencies in key product areas. PVH said it shares complementary commitments to quality standards and corporate responsibility with Nike.

Nike men’s underwear will join PVH’s The Underwear Group, a portfolio of brands that already includes Calvin Klein, Tommy Hilfiger, Olga, Warner’s and True & Co.

“We are incredibly proud to be working with Nike, as this is an opportunity for two great companies to build on each other’s strengths, making it a win-win for everyone, especially consumers,” Cheryl Abel-Hodges, PVH’s president of Calvin Klein North America and The Underwear Group.

PVH, which owns the Calvin Klein, Tommy Hilfiger, Van Heusen, Speedo, Warner’s and Izod brands, posted nearly $9.7 billion in revenue in 2018. In the fourth quarter ended Feb. 3, revenue dipped 1 percent to $2.48 billion. Earnings before interest and taxes for the quarter increased to $134 million from $58 million in the prior year period.

Revenues for the Nike brand for the third quarter ended Feb. 28 were up 12 percent to $9.1 billion, driven by growth across wholesale and Nike Direct categories, including sportswear and Jordan, and continued double-digit growth across footwear and apparel.