Calvin Klein Inc., a unit of PVH Corp. (PVH - Analyst Report), has put forward the name of Frank Cancelloni for the position of President of Calvin Klein Asia Pacific. Mr. Cancelloni will take over the new positions starting Dec 4, 2013.
Frank Cancelloni possesses tangible experience in the field, having worked with companies like Devanlay, VF Asia Ltd., American Household (formerly Sunbeam Corp.) and Saint-Gobain. He most recently served as the Chief Executive Officer of Asia Pacific at Devanlay, the global apparel and leather goods licensee of Lacoste.
Though of French origin, Cancelloni is abreast with the Asian market, having worked there for 20 long years. Over the years, Cancelloni has supervised fashion apparel, retail, licensing and distribution businesses in more than 13 countries, developing profound market know-how in these businesses. Areas under his operation include North and South Asia, as well as Australia and India.
In his new role as the President of Calvin Klein’s Asian operations, Cancelloni will overlook the company’s worldwide initiatives for the brand, operations and licensing with an aim to further boost growth in the region. He will be accountable for formulating business policies for the Asia-Pacific region, focused on further strengthening its well-known operations, to expand its market share and reach in these high-growth markets. Based in the company’s headquarters in Hong Kong, Cancelloni will report to Steve Shiffman, President & Chief Commercial Officer of Calvin Klein.
Meanwhile, revenues for the leading global fashion design and marketing studios rose more than twofold to $670.6 million in second-quarter fiscal 2013 from $251.2 million in the year-ago quarter, mainly on the back of the Warnaco acquisition and a 6% rise in comparable-store sales (comps) at the Calvin Klein North America retail business. However, comps at the company’s Calvin Klein International segment dropped 1%.
PVH Corp. is a well-known apparel retailer, which owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. Additionally, it markets numerous renowned brands including, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass, G.H. Bass & Co., Warner’s and Olga. Its licensed brands include Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos.
Currently, PVH Corp. carries a Zacks Rank #3 (Hold). Better-performing stocks in the apparel retail industry include Michael Kors Holdings Ltd. (KORS - Analyst Report), Ralph Lauren Corp. (RL - Analyst Report) and VF Corp. (VFC - Analyst Report). All of these stocks carry a Zacks Rank #1 (Strong Buy).