Stefan Larsson begins role as PVH CEO

Stefan Laarson, who in September was named as the successor of Manny Chirico to become the new CEO of PVH, has officially started his new role.

Larsson joined PVH in June 2019 in the newly-created position of president where he oversaw the fashion giant’s branded businesses and regions.

Before joining PVH, he had held roles as CEO of Ralph Lauren and global president of Gap’s Old Navy division.

“This is a deeply humbling and exciting opportunity. I am honoured to become CEO to build upon the industry-leading business and values-driven organization that Manny has shaped during his 15 years as CEO, and continue the exceptional people-first culture and purposeful commitment to corporate responsibility that he has championed at PVH,” Larsson said in a statement.

“My focus is on building upon the core strengths that brought us here and connecting them closer to where the consumer is going than any time before, which will form the foundation to successfully deliver our next chapter of growth.”

As part of the leadership change, Chirico, who has helmed PVH since 2006, will stay on as chair of the board.

Under his leadership, PVH was transformed from a US-based menswear company to a global fashion and lifestyle heavyweight.

Like so many fashion companies, PVH has been hit hard in the past year by the pandemic, though its latest third-quarter results saw signs of improvement.

For the three months to 1 November, the company reported an 18 percent decline in revenue to 2.12 billion dollars - a significant sequential improvement on the 33 percent drop it saw in the second quarter and 43 percent drop in the first quarter.

Picture credit: Business Wire