PVH is advancing its intimates market presence with another major acquisition.
The global apparel company is taking over True&Co., a direct-to-consumer intimates e-tailer. The acquisition will enable PVH to expand its intimates portfolio and deliver a more seamless digital shopping experience.
“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,” PVH Corp. CEO and chairman Emanuel Chirico said. “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.”
Founded in 2012 by Michelle Lam, True&Co. aims to revolutionize online bra shopping. Unlike other lingerie e-tailers, True&Co. delivers a more personalized purchasing process. The company’s fit quiz delivers accurate sizing information without measuring tape, fitting rooms or body photos. True&Co. also provides consumers with custom style recommendations based on their bra preferences. To-date, the company has leveraged more than 130 million data points to establish a unique lingerie e-commerce experience for consumers everywhere.
“Five years ago, I founded True&Co. to change the way women shop for intimate apparel. In PVH, we have a strategic partner who can help us bring this change to as many customers as possible,” True&Co. co-founder Lam said. “We look forward to joining PVH’s portfolio of brands and to help drive growth initiatives for PVH’s other brands.”
PVH’s True & Co. acquisition isn’t the company’s first intimates takeover. In 2012, PVH acquired Warnaco, another global apparel company, for roughly $2.9 billion. The acquisition strengthened PVH’s global control of Calvin Klein’s two largest apparel categories—jeans and underwear (Warnaco owned the underwear division and held the license for Calvin Klein jeans). Warnaco joined PVH’s Calvin Klein platform and was responsible for PVH’s advancement in the intimates sector over the past five years. PVH also owns intimates brand, Olga, which sells at major retail outlets, including Amazon, Kohl’s and Macy’s.
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