The owner of Calvin Klein and Tommy Hilfiger, Phillips-Van Heusen Corporation (PVH), left the Russian business. Denis Shchukin became the new owner and general director of the local division, and the name of the structure was changed to Retail Excellence LLC.
The company profile on HeadHunter indicates that in Russia PVH operates more than 150 stores, including franchisees. Most likely, Retail Excellence will continue to manage the corporation’s former establishments, Kommersant writes.
According to experts, the agreement will help reduce pressure on foreign markets, preserving the possibility of returning to Russia.
Phillips-Van Heusen Corporation owns the brands Tommy Hilfiger, Calvin Klein, Warner’s, Olga and True & Co. In Russia, the company developed its own retail chain of Tommy Hilfiger and Calvin Klein stores. Last spring, PVH announced the suspension of work in the Russian Federation.
After the departure of some foreign brands, 40% of Russians are willing to buy their products under new names. Most often, residents of the country buy well-known foreign brands in markets, online stores or buy back products from their owners on Avito, on Telegram channels and in other ways.
Author:
Karina Pardaeva
Source: RB
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