Apparel giant PVH Corp has promoted Martijn Hagman as CEO of Tommy Hilfiger Global and PVH Europe, succeeding company veteran Daniel Grieder.
Hagman, who took up the role yesterday (2 June), most recently served as COO of Tommy Hilfiger Global and PVH Europe and CFO of Tommy Hilfiger Global, overseeing operations, finance, digital business transformation, technology, business development and the Tommy Hilfiger global sustainability programme.
He has been a member of the Tommy Hilfiger leadership team for 12 years and has been “instrumental” in the brand’s global expansion and the strategy that has led to PVH Europe’s consistent year-over-year growth.
Grieder is stepping down from his role after 23 years in various management roles within the organisation and will be leaving the company to pursue other interests.
Since Grieder became CEO of Tommy Hilfiger Global and PVH Europe in 2014, the Tommy Hilfiger business grew from US$6bn to over $9bn in retail sales in 2019, while the Calvin Klein European business more than doubled in revenues and earnings.
“Tommy Hilfiger Global and PVH Europe came into this year on the same successful path they have been on, with strong sales trends and improving brand awareness, and connecting with consumers,” said Manny Chirico, chairman and CEO of PVH Corp. “Daniel has been a champion of growing our innovation capabilities and expanding Tommy Hilfiger’s reach around the world, always pushing for a consumer-centric, digitally-focused and sustainable mindset, while building a very strong management team.”
Hagman added: “We are confident in continuing to execute on the current strategic plan, and our focus for the coming months will be on the recovery and rebound phase of our global businesses out of the Covid-19 pandemic.”
Grieder will help transition his responsibilities over the next few months to ensure a smooth and successful transition.
In its most recent quarterly results, PVH reported a net loss of $67.4m for the fourth-quarter ended 2 February, compared to net income of $158.7m in the prior-year period. Revenue in the period totalled $2.6bn, marking a rise of 5% on last year, or 6% on a constant currency basis.