Press release - Amendment to the Valentino shareholders' agreement - September 10, 2025 PRESS RELEASE September 10, 2025 AMENDMENT TO THE VALENTINO SHAREHOLDERS’ AGREEMENT Kering and Mayhoola jointly announce that they have agreed to amend their shareholders’ agreement (initially concluded at the time of Kering’s acquisition of a 30% stake in Valentino in 2023) and more specifically the framework of the evolution of Valentino’s shareholding. According to this amendment, the current ownership struct ...

Inditex sales picked up at the start of the third quarter, as the world’s biggest fashion retailer showed resilience in the face of weak consumer sentiment and poor weather https://t.co/0Qbbs7Z9k6 ...

Anna Wintour was Vogue. Now she's gone, can the magazine stay relevant? https://t.co/eL6ORLKdVh ...

Heard on the Street: Giorgio Armani has left behind a slightly outdated business model https://t.co/tqaJmqiWHL ...

Billionaire designer Giorgio Armani, who died this week at age 91, transformed Italian fashion while remaining defiantly independent. https://t.co/iTCfu1LXe8 ...

All over Milan is Armani. All over the world is Armani. Everyone has heard Armani's name and that is his legacy.This is the Armani bookstore. Come with me. This is the Armani Hotel. This is just one street in Milan.And further up, the Armani store itself. George Omani created his fashion brand in 1975. But it was when his suits appeared with Richard Gear in American Jigalo that it really took off.His suits were different. They were deconstructed. They weren't the formal suits of past years.And yet at the sa ...

[Applause] Giorgio Armani, the fashion designer everyone knows, even if they know nothing about fashion. The 91year-old whose jaw-dropping dresses and sleek suits redefined red carpets has died. His company calling him indehaticable, saying he worked until his final days.When you hear the name Armani, what comes to mind. >> Genius. To me, he's he was such a visionary.We lost a huge talent in the fashion and creative worlds. >> Born in Pachenza, Italy in 1934, Armani did not come from a wealthy family. He fo ...

Billionaire Fashion Designer Giorgio Armani Dead At 91 https://t.co/77hc0giWVB ...

Financial Data and Key Metrics Changes - The company reported a 4% growth in Q2, with improvements in both Calvin Klein and Tommy Hilfiger brands [17] - Innovations in Calvin Klein's underwear and denim categories led to sales increases of 14% and 19% respectively [11][64] - The company reaffirmed its earnings guidance despite tariff rates nearly doubling, with 70% of its business being international [18][71] Business Line Data and Key Metrics Changes - Calvin Klein and Tommy Hilfiger each contribute approximately 50% to the company's overall business [3] - The company has seen sequential improvement in direct-to-consumer (DTC) performance, indicating a growing consumer base and improved customer engagement [32][33] - The wholesale order books in Europe are showing low single-digit growth, indicating a positive trend for the upcoming seasons [22][24] Market Data and Key Metrics Changes - The company has the strongest business presence in Europe and significant growth potential in the Asia-Pacific (APAC) region [4][41] - In China, both Calvin Klein and Tommy Hilfiger ranked among the top five international brands on Tmall during major shopping events [41] - The APAC region is the company's highest DTC market, heavily weighted towards full-price sales [43] Company Strategy and Development Direction - The company aims to leverage the brand power of Calvin Klein and Tommy Hilfiger to drive growth, focusing on cultural relevance and consumer engagement [5][6] - The PVH Plus strategy emphasizes stronger product offerings and improved customer experiences to enhance brand relevance and pricing power [28][73] - The company is investing in flagship stores globally to enhance brand expression and drive sales across all channels [49][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the North American market despite uncertainties related to tariffs, highlighting strong consumer responses to their brands [27][29] - The company is focused on long-term growth and improving the consumer offering, which is expected to drive margin expansion [73][75] - Management acknowledged challenges faced in product creation but emphasized that improvements are being made to stabilize and enhance gross margins [56][60] Other Important Information - The company has centralized its global product creation team to improve efficiency and effectiveness in product offerings [52][53] - The opening of the Harajuku flagship store for Calvin Klein was met with significant consumer interest, indicating strong brand engagement [45][49] - The company is adapting its marketing strategies to better connect with consumers and drive conversion rates [36][37] Q&A Session Summary Question: What gives confidence in improvement trends in Europe? - Management noted strong brand positioning and growth in wholesale order books as indicators of improvement [22][24] Question: Expectations for the North American environment in 2025? - Management sees uncertainty but remains encouraged by consumer responses and strong DTC performance [27][29] Question: How is the competitive environment expected to change? - Management believes brand strength and relevance will become increasingly important for market share [30][31] Question: What changes are expected in DTC performance? - Management highlighted sequential improvements in DTC and a focus on building consumer engagement [32][33] Question: What is the outlook for APAC and China? - Management reported stabilization in APAC and significant growth during major shopping events in China [41][42] Question: How is the company addressing tariff impacts? - Management is working on mitigation strategies and believes that international business provides a competitive advantage [68][71] Question: Is margin expansion achievable? - Management affirmed that margin expansion is achievable through improved consumer offerings and disciplined cost management [73][75]

The man who became synonymous with style began his career as a merchandiser at an Italian department store. He went from buying clothes to creating them when he became a designer for various companies and began working on his signature style. In 1975, Armani's business partner convinced him to start his own line of readyto-ear clothes.[Music] >> His fashions became known for sleek design and rich fabrics. Giorgio Armani evolved into one of the most sought-after fashion labels in the world. By 2001, he was c ...