PVH has evolved from its 1881 roots to become a diverse global apparel company with $8.2 billion in 2016 revenues through a combination of strategic acquisitions and by successfully growing our brands globally across the wholesale, retail, digital commerce and licensing channels. Our transformative acquisitions – Calvin Klein in 2003, Tommy Hilfiger in 2010, and Warnaco in 2013 – have redefined PVH's identity, performance and long-term growth potential.
Today, PVH operates a diversified portfolio of iconic lifestyle apparel brands led by CALVIN KLEIN and TOMMY HILFIGER, which represent approximately 80% of our revenues and are expected to continue to drive future revenue and profitability growth. PVH's operations have also evolved from a regional perspective; whereas our business was primarily based in North America in the early 2000's, we now operate significant businesses in Europe, the Asia Pacific region and Latin America, and approximately 75% of our earnings before interest and taxes on a non-GAAP basis(1) is subject to foreign exchange risk. As a much larger organization, we continue to operate under our core business principles, which value leaders who hold the highest ethical standards, while also driving results across the business.
PVH: The Future
We see a sustainable path of long-term growth as we continue to execute on our core business strategies. We believe that we can maximize the potential of our Calvin Klein, Tommy Hilfiger and Heritage Brands businesses as we continue to invest in our global platforms, focus on our talent, pursue strategic global growth opportunities, expand our digital capabilities and enhance our global supply chain to evolve with our growing business needs. Combined with our ongoing emphasis on maintaining a strong credit profile and a healthy balance sheet, we believe that we will continue to be able to deliver on our business strategy and create value for our stockholders.
Earnings Before Interest and Taxes (Dollars in Millions)
|Total Earnings Before Interest and Taxes||$789||$(5)||$794|