NEW YORK--(BUSINESS WIRE)--PVH Corp. [NYSE: PVH] announced today that it has entered into an agreement to acquire True&Co., a direct-to-consumer intimate apparel e-commerce retailer. True&Co. is changing the way women shop online by redesigning the art of bra shopping. It uses a proprietary fit quiz to recommend bras and other intimates that will best fit the responding consumer. Leveraging its consumer-centric data for the over five million women who have taken its quiz, True&Co. enables women to embrace an entirely different and personalized lingerie shop that offers a fun, fashionable and truly intimate experience. 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.
Emanuel Chirico, Chairman and Chief Executive Officer, PVH Corp., commented: “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. 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. 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,” said Michelle Lam, Co-founder of True&Co.
About PVH Corp.
With a history going back over 135 years, PVH 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 and over $8 billion in annual 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.
About True&Co.
True&Co. provides a unique lingerie e-commerce experience. Founded in 2012 by Michelle Lam, based in San Francisco and designed in New York City, True&Co. originated the online Fit Quiz that transformed the way women shop online by matching recommendations far beyond typical measurements. Leveraging more than 130 million data points for over five million women to date, the company provides a uniquely personalized customer experience with great product.
