PVH Corp PVH has been taking initiatives to enhance its e-commerce operations to drive business growth and gain market share. Recently, the company announced that Wirecard - a global digital financial services provider - rolled out the 'Try Before You Buy' payment choice in collaboration with PVH's European headquarters.
With this, the European Tommy Hilfiger and Calvin Klein websites will be the first-ever sites to use this versatile, smart payment option. This scheme enables online customers to pay 30 days after the delivery of their ordered products, making it convenient for them to try styles and other attributes. Notably, these shoppers have to make payment only for those products which they retain.
Based on latest technologies like machine learning and artificial intelligence, Wirecard's Fraud Prevention Suite (FPS) protects customers' creditworthiness by scrutinizing the data patterns. These innovative and modern technology systems alleviate risks associated with online payment with various options for shoppers to make a safe and flexible purchase.
As part of its e-commerce initiatives, PVH Corp earlier extended the reach and distribution of Heritage Brands by launching an integrated e-commerce site for the brand, which allows cross-brand shopping. The sites launched include IZOD.com, VanHeusen.com and styleBureau.com, thus permitting customers to shop from the IZOD and Van Heusen brands in a single shopping platform. This helps in reviving the brand's sluggish performance, relative to the premium Calvin Klein and Tommy Hilfiger brands.
Additionally, in August 2018, PVH Corp announced the launch of IZOD premium brand in Europe, across Spain, Germany, the Netherlands and Scandinavia in fall. Shoppers can now avail this American lifestyle brand's products such as polos, t-shirts, sweaters, knits, denim and more. The brand's collection will be accessible in stores as well as online, which covers El Corte Ingles in Spain, Hudson's Bay in the Netherlands and Galeria Kaufhof in Germany. Through online, it will be available on Zalando and Boozt. Moving ahead, management plans to expand the brand's distribution in Europe, Russia and the Middle East regions in spring next year.
Expansion of the company's e-commerce portals is expected to generate higher sales, and boost future growth and profitability.
In the past year, this Zacks Rank #3 (Hold) stock has gained 5.3% compared with the broader Consumer Discretionary sector's 11% rally.
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