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MarketScreener Homepage  >  Equities  >  Nyse  >  PVH Corporation    PVH

PVH CORPORATION

(PVH)
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PVH Corp. :-Backed HATCH Signs Commercial Partnership With Industry Leading JOOR to Expand Adoption of Digital In-Showroom Technology

10/21/2020 | 08:01am EST

AMSTERDAM, The Netherlands, Oct. 21, 2020 (GLOBE NEWSWIRE) -- HATCH, an innovation entity backed by PVH Corp. [NYSE: PVH], owners of TOMMY HILFIGER and Calvin Klein, and JOOR, the world’s leading digital wholesale platform for fashion, beauty and home, announce they have signed a commercial partnership. Per the strategic agreement, the HATCH Digital In-Showroom software will be included in JOOR’s service offering to its customers, accelerating the adoption of the innovative technology among brands. The partnership marks a bold step in HATCH’s vision to digitize wholesale selling, and also supports JOOR’s mission to create one innovative digital ecosystem where all brands and retailers can meet to efficiently and profitably grow their wholesale business.

“We look up to JOOR for their position as an industry leading platform that is transforming the wholesale industry, and are excited that the HATCH Digital In-Showroom technology can play a part in elevating their offering to customers,” said Anne-Christine Polet, SVP, Digital Ventures (HATCH), PVH Europe. “It further demonstrates the value that the HATCH software can bring to the fashion industry.”

The HATCH Digital in-Showroom technology focuses on the traditional in-showroom experience, offering brands an intuitive way to digitize their physical wholesale appointments. First developed in 2014 by PVH Corp., the Digital In-Showroom technology has since revolutionized the wholesale selling process for Tommy Hilfiger and Calvin Klein. HATCH, leveraging its five years of fashion-tech expertise and real-world learnings, has been bringing since January 2020 the Digital In-Showroom technology to the wider fashion industry through a SaaS model: a software licensing model in which access to the technology – hosted on the cloud – is provided on a subscription basis. Based on this expertise, HATCH also offers Digital Transformation consultancy services to ease a brand’s transition into the future of wholesale selling.

“PVH’s HATCH is at the forefront of modernizing digital in-showroom commerce,” explained Kristin Savilia, CEO, JOOR. “JOOR brands and retailers have come to expect the latest innovations from our company. Integrating HATCH into our service offering will make the overall buying experience for our customers richer, and we are pleased to partner with HATCH to deliver it.”

Under the new partnership, JOOR will offer select brands exclusive and seamless access to HATCH's Digital in-Showroom software. Founded in 2010, JOOR has put the entire buying process online to make wholesale smoother and smarter for both brands and retailers. JOOR connects over 8,600 brands with 200,000 retailers across 144 countries every day, with three quarters of the world’s luxury brands using the JOOR platform to conduct their wholesale business. JOOR’s industry-standard platform enables the buying process and extends through the entire purchase and delivery cycle, complete with reporting that offers rich post-season insights.

About HATCH
HATCH (hatchstudio.co) is a Software as a Service (SaaS) startup born from fashion and built for fashion. We enable fashion brands to digitize wholesale selling through our Digital in-Showroom and Transformation services, allowing for engaging storytelling moments between fashion brands and retailers; tackling the inefficiencies and waste of wholesale selling and making it smarter, faster and more sustainable. 

HATCH Digital in-Showroom is used by big name brands in fashion like TOMMY HILFIGER and Calvin Klein. It’s our aim to remain the product of choice for digital selling in fashion, delivering an experience that is many times better than selling the traditional way. 

About JOOR
JOOR is the world’s industry-standard wholesale platform for fashion, that transacts over $1.5Bn in GMV every month. More than 8,600 brands and over 200,000 curated fashion retailers across 144 countries connect on the platform every day. With a commitment to fueling the advancement and growth of both brands and retailers, JOOR provides an ecosystem that combines dynamic virtual showrooms with collaborative tools including JOOR Passport, which centralizes the trade show experience across multiple fashion events.  JOOR users have greater flexibility, visibility, performance and insights into their business. JOOR is headquartered in New York City and has offices in Los Angeles, Philadelphia, Paris, London, Milan, Madrid, Melbourne and Tokyo. For more information visit: JOOR.com. 


HATCH Contact:
comms@hatchstudio.co

Contact Information: Gretchen Miller, Joor@nectarpr.com

Source: Joor

2020 GlobeNewswire, Inc., source Press Releases

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Sales 2021 7 161 M - -
Net income 2021 -1 094 M - -
Net Debt 2021 2 159 M - -
P/E ratio 2021 -6,48x
Yield 2021 0,04%
Capitalization 7 055 M 7 055 M -
EV / Sales 2021 1,29x
EV / Sales 2022 1,00x
Nbr of Employees 30 750
Free-Float 82,0%
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Emanuel Chirico Chairman & Chief Executive Officer
Stefan Larsson President
Michael Alan Shaffer Chief Operating & Financial Officer, Executive VP
Eileen Mahoney Chief Information Officer & Executive VP
Joseph B. Fuller Independent Director
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