PVH Corp. Announces Specialized Outerwear Category Licensing Agreement with Herman Kay-Mystic LLC for North America Wholesale Channel

PVH Corp. (NYSE:PVH) and Herman Kay-Mystic LLC ("Herman Kay") today announced a new licensing agreement of select wholesale men's and women's outerwear under the Calvin Klein and TOMMY HILFIGER brands in the U.S. and Canada, which is expected to launch in Spring 2026.

PVH has a large and diversified global licensing business, which is a key competitive advantage globally. Through the multiyear takeback of its licensed women's wholesale business in North America, PVH will directly operate the key lifestyle expression of Calvin Klein and TOMMY HILFIGER through the world of underwear, sportswear, and jeans, which create the halo for the brands' expression and price position in wholesale. PVH will also partner with key experts for certain wholesale category businesses where the partner can provide deep category and channel expertise. The approach supports the company's long-term, brand-building growth strategy, the PVH+ Plan, and drives further scale in the marketplace.

"As we bring licenses in-house that represent the core part of our brands' lifestyle expression, we are also working with complementary partners, like Herman Kay, who are fully aligned with our brand vision and direction, and will contribute to driving sustainable, brand-accretive growth as we deliver on our PVH+ Plan," said Donald Kohler, CEO, PVH Americas. "Herman Kay is a recognized market leader in outerwear, and we're excited to work with them to accelerate our category growth plans in the market."

Barry Kay and Richard Kay, Co-Presidents of Herman Kay said, "This partnership marks a major milestone in our company's growth, and the opportunity to align with PVH—a company we greatly admire—is both exciting and humbling. We are honored to bring our expertise to Calvin Klein and TOMMY HILFIGER and look forward to delivering exceptional specialized products and value to wholesale consumers."

About PVH Corp.

PVH is one of the world's largest fashion companies, driven by its two iconic brands, Calvin Klein and TOMMY HILFIGER. For more than 140 years, PVH has connected with and inspired consumers globally and now operates in more than 40 countries worldwide. For more information, visit https://www.pvh.com.

About Herman Kay

Herman Kay is a global leader in outerwear design, development, and manufacturing with over 75 years of experience. Headquartered in New York City, Herman Kay is known for combining trend-driven design, speed to market, and sustainable innovation. The company partners with leading retailers and global brands to create high-quality outerwear collections that meet the needs of a modern consumer.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements in this press release, including, without limitation, statements relating to the Company's plans, strategies, objectives, expectations and intentions are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not be anticipated, including, without limitation, (i) the Company's plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the ability to realize the intended benefits from the acquisition of licensees or the reversion of licensed rights (such as the announced, in-process plan to bring in house a significant portion of the product categories that are or had been licensed to G-III Apparel Group, Ltd. upon the expirations over time of the underlying license agreements) and avoid any disruptions in the businesses during the transition from operation by the licensee to the direct operation by us or to a new licensee; (iii) the levels of sales of the Company's licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company and its licensees and other business partners are required to engage, all of which can be affected by weather conditions, changes in the economy (including inflationary pressures like those currently being experienced globally), fuel prices, reductions in travel, fashion trends, consolidations, repositionings and bankruptcies in the retail industries, consumer sentiment and other factors; (iv) restrictions, including quotas and the imposition of new or increased duties or tariffs on goods from the countries where the Company or its licensees produce goods under its trademarks, any of which, among other things, could limit the ability to produce products in cost-effective countries, or in countries that have the labor and technical expertise needed, or require the Company or its licensees to absorb costs or try to pass costs onto customers or consumers, which could materially impact the Company's revenue and profitability; (v) changes in available factory and shipping capacity, wage and shipping cost escalation, and store closures in any of the countries where the Company's or its licensees' or wholesale customers' or other business partners' stores are located or products are sold or produced or are planned to be sold or produced, as a result of civil conflict, war or terrorist acts, the threat of any of the foregoing, or political or labor instability, such as the current war in Ukraine that led to the Company's exit from its retail business in Russia and the cessation of its wholesale operations in Russia and Belarus, and the temporary cessation of business by many of its business partners in Ukraine; (vi) disease epidemics and health-related concerns, such as the recent COVID-19 pandemic, which could result in (and, in the case of the COVID-19 pandemic, did result in some of the following) supply-chain disruptions due to closed factories, reduced workforces and production capacity, shipping delays, container and trucker shortages, port congestion and other logistics problems, closed stores, and reduced consumer traffic and purchasing, or governments implement mandatory business closures, travel restrictions or the like, and market or other changes that could result in shortages of inventory available to be delivered to the Company's stores and customers, order cancellations and lost sales, as well as in noncash impairments of the Company's goodwill and other intangible assets, operating lease right-of-use assets, and property, plant and equipment; (vii) the failure of the Company's licensees to market successfully licensed products or to preserve the value of the Company's brands, or their misuse of the Company's brands; and (viii) other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission.

The Company does not undertake any obligation to update publicly any forward-looking statement, whether as a result of the receipt of new information, future events or otherwise.

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