PVH Corp. and Li & Fung sign supply chain agreement

London - PVH Corp., the owner of Tommy Hilfiger and Calvin Klein has entered into a new strategic partnership with global supply chain management firm Li & Fung to strengthen its current supply chain.

The agreement sees PVH Corp replacing its current agreement with Li & Fung into a new partnership which sees the Hong-Kong based company offer additional services to PVH Corp. The new supply chain partnership will be mutually beneficial to both parties, but will focus on Li & Fung sharing its expertise and technology within the PVH Corp. supply chain. The partnership is expected to be complete by July 1, 2017.

"Our focus is to create a more effective and efficient supply chain that will enable us to adapt and evolve so we can stay ahead in our rapidly changing industry," commented Daniel Grieder, chief executive of Tommy Hilfiger Global and PVH Europe. "This transformation in our sourcing strategy is an important step in our initiative to improve speed to market and for the faster integration of consumer insights into our new collections."

Spencer Fung, Group Chief Executive Officer of Li & Fung added: "We’ve had a long-standing relationship with PVH and we’re excited to continue building on that under this new strategic partnership where we’ll have an opportunity to create what we see as the Supply Chain of the Future."