PVH Taps H& M Supply Chain Vet David Savman
● The Calvin Klein and Tommy Hilfiger parent is bringing on some more fast-fashion talent.
Stefan Larsson, chief executive officer of PVH Corp., is going back to his roots to update the company's C-suite, hiring David Savman as executive vice president and chief supply chain officer.
Savman, who will join PVH late this year and report to Larsson, spent 19 years at H&M, most recently as head of global supply chain, leading the retailer's sourcing, procurement and warehouse operations across more than 90 countries.
At PVH, which owns Tommy Hilfiger and Calvin Klein, Savman will be responsible for the global supply chain and sourcing strategy. He succeeds Sarah Clarke, who is leaving on Oct. 31 to pursue other interests.
“David is a world-class supply chain executive who has deep experience and expertise in our sector, gained through many years of leadership in critical areas where we see opportunity,” Larsson said. “With his proven ability to simplify complexity, strong ability to create value through a demand- and data-driven value chain, deep experience in international markets and commitment to sustainability, he will play an important role driving our PVH+ plan forward.”
Larsson took charge at PVH in 2021, after stints leading Ralph Lauren Corp. and Old Navy. But he started off at H&M for 15 years, a period when the Swedish retailer grew revenues from $3 billion to $17 billion.
In April, the CEO laid out his PVH+ plan to refocus the business and drive revenues to $12.5 billion by 2025, up from $9.2 billion last year. The strategic plan zeros in on five growth drivers and, according to a summary, is intended to help the brands “win with product, win with consumer engagement, win in the digitally led marketplace, develop a demand- and data-driven operating model, and drive efficiencies and invest in growth.”
Savman said: “PVH has incredibly powerful and compelling global brands and a clear strategy in place. I am excited to be joining at this pivotal time for the company, and will be focused on pursuing opportunities to add significant value and make lasting, positive contributions to deliver on the PVH+ plan. I look forward to supporting Stefan and the entire PVH team to deliver sustainable long-term growth.”
He joins at a time when fashion's global supply chain is under intense pressure, working through disruptions that cropped up during COVID-19, including a big rush of inflation that has prices moving higher at a pace not seen in 41 years.