Younger Consumers Want To Connect Emotionally with Brands, Says PVH CEO

Mar 29

“Especially today, younger consumers want to connect emotionally with brands,” says Manny Chirico, CEO of apparel company PVH, which owns many lifestyle brands including Calvin Klein and Tommy Hilfiger. “They don’t want to just aspire for your brand looking down the runway, they want to be part of the life of the brand. I think Tommy Hilfiger does it well.”

Manny Chirico, CEO of apparel company PVH, which owns many lifestyle brands including Calvin Klein and Tommy Hilfiger, discusses how the company has turned around by focusing on ecommerce, technology, and connecting with young consumers. He was interviewed on CNBC:

Consumer Experience is Critical

You have to be willing to make the investment. I think we really have done it (turned around the company), from not only a brand marketing point of view, but investing in all the new technologies and investing in the ecommerce platforms that really will drive the business going forward. Our stores are highly profitable and we need to continue to invest in those stores. The consumer experience is critical and we’re making connections with a younger and younger consumer.

We’re all dealing with the challenge of the distribution models changing, but fundamentally we’ve always been a multi-channel retailer. We have big businesses in brick and mortar, both direct-to-consumer in our own stores and through our key wholesale partners like Macy’s here in the US or Galeries Lafayette in Europe. Those key players we continue to invest back into those platforms.

Younger Consumers Want To Connect Emotionally with Brands

The challenge with that high-end collector fashion business is are you connecting with a younger consumer today and how do you make your investments as you as you go forward? I think it needs to be more balanced than it’s been. Especially today, younger consumers want to connect emotionally with brands. They don’t want to just aspire for your brand looking down the runway, they want to be part of the life of the brand.

I think Tommy (Hilfiger) does it well. We just have a fashion show in Paris with Tommy selling product immediately after that trying to connect with the consumer at more affordable price points than what you would see from the luxury point of view. That’s how you build big businesses. We’re not trying to build niche businesses selling just $2,000 men’s suits or evening gowns. We’re really about building big lifestyle businesses.

[Read More …]