PVH Corporation introduces the new chief executive officer for EMEA (Europe, Middle East, and Africa) region.
PVH Corp., the parent company of iconic fashion brands Calvin Klein and Tommy Hilfiger, has announced the appointment of Fredrik Olsson as the new CEO of PVH EMEA, effective in the fourth quarter of this year.
Olsson, who previously held the position of CEO at Dubai-based Max Fashion, one of the largest fashion retailers in the Middle East, brings a wealth of experience to his new role. He spent more than 20 years at the H&M Group, where he held various roles including managing director of the H&M brand.
Stefan Larsson, CEO of Tommy Hilfiger and Calvin Klein parent company, praised Olsson's appointment, saying, "Fredrik is a unique leader in our sector with a high-performance track record of driving consistent, profitable, brand-accretive growth across multiple markets globally."
Olsson's systematic and repeatable approach is expected to be crucial for PVH's growth in the region. The company is working to boost the news value of its core brands as part of its PVH+ Plan and aims to reach $12.5 billion in revenue by 2025.
David Savman will continue to lead PVH Europe on an interim basis until Olsson joins, and will work closely with him during the handover period. Martijn Hagman, who stepped down from his position of CEO of Tommy Hilfiger Global and PVH Europe in June, will stay on in an advisory capacity to facilitate a smooth transition.
In a related move, the Tommy Hilfiger portion of Hagman's responsibilities was given to global brand president Lea Rytz Goldman. PVH is also implementing changes to its sales strategy in Europe, as mentioned in its latest earnings release, where it continues its "strategic reduction" of news in the region.
Last week, PVH reported Q2 revenue of $2.1 billion, marking a 6% year-over-year decrease. Olsson will report to Stefan Larsson and will relocate to Amsterdam for his new role.
Olsson is known for his strong people and partnership focus, which is likely to serve him well in his new position. PVH's vision is to build Calvin Klein and Tommy Hilfiger into the most desirable lifestyle brands in the world and make PVH one of the highest performing brand groups in the sector.
With Olsson's appointment, PVH Corp. is poised to continue its growth and development in the European market.
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