PVH to acquire apparel e-commerce retailer True&Co
PVH has agreed to acquire direct-to-consumer intimate apparel e-commerce retailer True&Co.
True&Co. is changing the way women shop online by redesigning the art of bra shopping. It uses a proprietary fit quiz to recommend bras and other intimates that will best fit the responding consumer.
Leveraging its consumer-centric data for the over five million women who have taken its quiz, True&Co. enables women to embrace an entirely different and personalized lingerie shop that offers a fun, fashionable and truly intimate experience.
This acquisition will enable PVH to further participate in the fast growing online channel and provides a platform to increase innovation, data driven-decisions and speed in the way it serves its consumers across its channels. The terms of the transaction were not disclosed.
PVH Corp chairman and CEO Emanuel Chirico said: “Today’s announcement illustrates our commitment to driving innovation across our business and demonstrates our commitment to making strategic investments in our digital platforms to support our long-term growth initiatives.
“We believe that we can leverage the analytics tools of this data-driven company, while leveraging PVH’s intimates category expertise, including global brand management, product know-how and supply chain.”
True&Co co-founder Michelle Lam said: “Five years ago, I founded True&Co. to change the way women shop for intimate apparel. In PVH, we have a strategic partner who can help us bring this change to as many customers as possible. We look forward to joining PVH’s portfolio of brands and to help drive growth initiatives for PVH’s other brands.”
Source: Company Press Release