PVH has evolved from its 1881 roots to become a diversified global apparel company with $8.2 billion in 2016 revenues through a combination of strategic acquisitions and by successfully growing our brands across the wholesale, retail, digital commerce and licensing channels. 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, as well, and approximately 75% of our earnings before interest and taxes on a non-GAAP basis(1) is subject to foreign exchange risk.
We see opportunity for significant long-term growth as we employ our strategic initiatives across our organization. These strategies include:
Drive consumer engagement by investing in product, marketing and in-store & online experiences.
Expand CALVIN KLEIN and TOMMY HILFIGER’s worldwide reach and assume more direct control over various licensed businesses.
Invest in our global operating and digital platforms to support our growth initiatives, while making positive impacts where we work and live.
Develop and retain talent through career development opportunities, while providing an inclusive workplace where every individual is valued.
Generate solid free cash flow to drive sustainable long-term growth and stockholder returns.
Our credit profile is strong, and we believe that our solid free cash flow generation will enable us to deliver upon these objectives and generate returns for our stockholders. Our framework for capital allocation can be viewed here.
As we continue to grow, we are guided by our core values and we are committed to Corporate Responsibility. Our core values – individuality, partnership, passion, integrity and accountability – embody who we are as a company and we believe that our commitment to them positions us to drive superior results. Additionally, as we continue to embrace change and position our company for long-term success, we believe that our focus on Corporate Responsibility will help us achieve sustainable growth by managing risk, maximizing efficiency and driving value.
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