PVH Corp. Collaborates with OpenAI to Accelerate Brand-Building Journey

The collaboration advances PVH's multi-year growth strategy, the PVH+ Plan, with practical, scalable solutions designed to unlock innovation, empower teams, and elevate the consumer experience for iconic brands ‘Calvin Klein' and ‘TOMMY HILFIGER'

PVH Corp. (NYSE:PVH) today announced a collaboration with OpenAI, combining the strength of OpenAI's capabilities with the power of Calvin Klein, TOMMY HILFIGER and PVH. This announcement builds on the company's multi-year brand-building growth strategy, the PVH+ Plan, by bringing the technology of OpenAI to PVH's global operations to fuel innovation and unlock new opportunities across the entire value chain.

With OpenAI, PVH will co-create custom AI capabilities that will be embedded in PVH's data- and demand-driven operating model – supporting areas such as product and design, demand planning, inventory optimization and consumer engagement. These new capabilities will complement and amplify the creativity and talent of PVH's teams, enabling sharper execution, more intelligent tools, and more personalized consumer experiences.

"As we build Calvin Klein and TOMMY HILFIGER into the most desirable lifestyle brands in the world, our collaboration with OpenAI will help us supercharge our brand-building journey and connect more meaningfully with our consumers," said Stefan Larsson, Chief Executive Officer, PVH Corp. "Together with OpenAI, we will explore exciting new opportunities for our brands, accelerate our data-driven operating model and enable faster, more data-driven decision-making. With a test-and-learn approach, we'll build practical use cases with scalable impact to drive value for associates, partners, and consumers, while helping us build a culture of innovation and agility from the ground up."

PVH will also integrate OpenAI enterprise APIs to build modern workflows and accelerate outcomes end-to-end, across product, marketing, supply chain, and retail functions. The effort also includes ChatGPT Enterprise and will feature new applications and custom environments built exclusively for PVH teams.

"PVH shows what's possible when AI is embedded into the core of a fashion leader," said Giancarlo ‘GC' Lionetti, Chief Commercial Officer at OpenAI. "The result is less friction, more creativity, and a sector-wide transformation accelerated by PVH deploying OpenAI at scale."

The collaboration is grounded in PVH's commitment to practical and scalable innovation that supports associates, transforms ways of working, and deepens connections to 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.

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 future 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 Company's ability to realize some or all of the anticipated benefits of its strategic collaboration with OpenAI; (iii) the levels of sales of the Company's apparel, footwear and related products, both to its wholesale customers and in its direct-to-consumer retail store and digital commerce operations, and the extent of discounts and promotional pricing in which the Company is 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) the Company's ability to manage its growth and inventory; (v) restrictions, including quotas and the imposition of new or increased duties or tariffs on goods from the countries where the Company produces 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 to absorb costs or try to pass costs onto consumers, which could materially impact the Company's revenue and profitability; (vi) the availability and cost of raw materials; (vii) the Company's ability to adjust timely to changes in trade regulations and the migration and development of manufacturers (which can affect where the Company's products can best be produced); (viii) the regulation or prohibition of the transaction of business with specific individuals or entities and their affiliates or goods manufactured in (or containing raw materials or components from) certain regions, such as the listing of a person or entity as a Specially Designated National or Blocked Person by the U.S. Department of the Treasury's Office of Foreign Assets Control and the issuance of Withhold Release Orders by the U.S. Customs and Border Protection; (ix) 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 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; (x) 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; (xi) actions taken towards sustainability and social and environmental responsibility as part of the Company's sustainability and social and environmental strategy may not be achieved or may be perceived to be falsely claimed, which could diminish consumer trust in the Company's brands and the Company's brands' values, as well as the potential for adverse consumer response to any sustainability, social or environmental actions taken by the Company; (xii) significant fluctuations of the U.S. dollar against foreign currencies in which the Company transacts significant levels of business; (xiii) the impacts of the decision by China's Ministry of Commerce to place the Company on the List of Unreliable Entities, including the impact of any fines imposed, or restrictions or prohibitions on the Company that have the effect of limiting or prohibiting its ability to do business in China; and (xiv) 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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