Business Groups We operate three business groups — Calvin Klein, Tommy Hilfiger and Heritage Brands — which we believe are poised for long-term growth. Calvin Klein With global retail sales of approximately $8.2 billion in 2015, Calvin Klein is one of the best known designer names in the world, offering provocative, modern designs. Our products are distributed through our wholesale partners and through over 2,800 retail locations (including company-operated, licensee and franchisee stores) across the world. Within the Calvin Klein brand portfolio, Calvin Klein Collection acts as a halo for the brand and offers inspiration to the other brands, which include Calvin Klein Platinum (our "bridge" line), Calvin Klein (our master label), Calvin Klein Underwear and Calvin Klein Jeans. Calvin Klein products are available through our wholesale customers (third party retailers, distributors and pure play digital commerce retailers that sell our products in brick and mortar stores and on digital commerce sites), at our own company-operated retail locations across the world, and online through our own digital commerce sites in the U.S., Europe, Brazil, China, Hong Kong and Macau. Additionally, in certain markets, our products are distributed through licensees (including joint ventures), franchisees and distributors. CALVIN KLEIN 2015 REVENUE BY REGION NORTH AMERICA (U.S., Canada and Mexico) INTERNATIONAL (Europe, including the Middle East and Africa; Asia Pacific, including Australia and New Zealand; and Latin America, including South America, Central America and the Caribbean.) 45 % 55 % Business Structure and Overview Our Calvin Klein business consists of two reportable segments: Calvin Klein North America and Calvin Klein International. Calvin Klein North America Our North American operations, which include revenues generated in the U.S., Canada and Mexico(1), accounted for approximately 55% of our Calvin Klein reported revenues in 2015. Product categories that are distributed in North America include men's sportswear and dress furnishings, men's and women's jeanswear, underwear, outerwear, fragrance, accessories, footwear, performance apparel, women's sportswear, dresses, intimates, suits and handbags and items for the home. Products are sold by us and our licensing partners, through wholesale customers (in stores and online), through our own network of retail stores, which are primarily located in premium outlet centers, and through our own digital commerce operations. Wholesale Retail Calvin Klein International Our international operations accounted for approximately 45% of our 2015 reported Calvin Klein revenues (including revenues generated in the Asia Pacific region, Europe and Latin America). Internationally, our products are sold through the wholesale channel (in stores and online); our own network of retail locations (including concessions) under the brand names Calvin Klein Jeans, Calvin Klein Underwear, Calvin Klein Performance and Calvin Klein Platinum; licensee stores under the brand names Calvin Klein Collection, Calvin Klein Platinum, Calvin Klein Performance and Calvin Klein Watch & Jewelry; and online through our digital commerce websites. Product assortments that are distributed internationally primarily include men's and women's jeanswear, underwear and accessories. Asia Pacific Europe Latin America Licensing Calvin Klein has approximately 65 licensing and similar arrangements worldwide with third parties for use of the Calvin Klein brands for a broad array of products, including women's dresses and suits, women's sportswear and performance apparel, men's tailored clothing, golf apparel, fragrances, cosmetics, eyewear, hosiery, socks, footwear, jewelry, watches, outerwear, handbags, small leather goods and home furnishings; and men's and women's Calvin Klein Platinum apparel in Asia. Licensing revenues are included in the region in which they are realized. Largest Third-Party Licensees Calvin Klein Global Store Count NORTH AMERICA (1) TOTAL STORES: ~200 EUROPE (2) TOTAL STORES: ~750 LATIN AMERICA (3) TOTAL STORES: ~110 ASIA PACIFIC (4) TOTAL STORES: ~1,800 (1) Includes the U.S., Canada and Mexico. (2) Includes the Middle East and Africa. Includes concession locations and franchisee and distributor stores. (3) Includes Central and South America and the Caribbean. Includes franchisee and distributor stores. (4) Includes concession, franchisee and licensee stores. Tommy Hilfiger With global retail sales of approximately $6.5 billion in 2015, Tommy Hilfiger, which is distributed in over 100 countries, is a global designer lifestyle brand. Tommy Hilfiger's essence is its classic American cool design heritage, and it occupies a distinct position as an aspirational, yet accessible, premium brand. Tommy Hilfiger offers a wide range of high-quality apparel, accessories and lifestyle products to a diverse consumer following. We design, market and distribute the Tommy Hilfiger, Tommy Hilfiger Tailored, Hilfiger Denim and Hilfiger Collection brands, and license these brands for an assortment of premium lifestyle products and in various countries and regions. Tommy Hilfiger products are available through our wholesale customers (in stores and online), our directly operated digital commerce sites, and our retail locations in North America, Europe, Japan and China; they are also distributed in North America, Europe, the Asia Pacific region and Latin America through licensees, joint ventures, franchisees and distributors. TOMMY HILFIGER 2015 REVENUE BY REGION NORTH AMERICA (U.S., Canada and Mexico) INTERNATIONAL (Europe, including the Middle East and Africa; Asia Pacific, including Australia and New Zealand; and Latin America, including South America, Central America and the Caribbean.) 50 % 50 % Business Structure and Overview Our Tommy Hilfiger business consists of two reportable segments: Tommy Hilfiger North America and Tommy Hilfiger International. Tommy Hilfiger North America Tommy Hilfiger North America(1) accounted for approximately 50% of Tommy Hilfiger's reported revenues in 2015. This includes revenues generated from the wholesale channel (in stores and online), through our own retail stores, our company-operated digital commerce site and licensing agreements. Retail Wholesale Tommy Hilfiger International Tommy Hilfiger International accounted for approximately 50% of the business' reported revenues in 2015. Products are sold by us through the wholesale and retail channels in Europe, Japan and China(3); through joint ventures in India, Brazil, Australia and New Zealand; and by third party distributors, licensees and franchisees in Europe, Latin America and the Asia Pacific region. We also operate digital commerce sites in Europe, Brazil, Japan and China. Europe Asia Pacific Latin America Tommy Hilfiger Global Store Count NORTH AMERICA (1) TOTAL STORES: ~240 EUROPE (2) TOTAL STORES: ~780 LATIN AMERICA (3) TOTAL STORES: ~210 ASIA PACIFIC (4) TOTAL STORES: ~570 (1) Includes the U.S., Canada and Mexico. (2) Includes the Middle East and Africa. Includes concession locations and franchisee and distributor stores. (3) Includes Central and South America and the Caribbean. All locations are licensee stores. (4) Includes concession, franchisee and licensee stores. Heritage Brands With 2015 reported revenues of approximately $1.7 billion, our Heritage Brands business encompasses the design, sourcing and marketing of a varied selection of brand label dress shirts, neckwear, sportswear, swim products, intimate apparel, underwear and related apparel and accessories under the Van Heusen, IZOD, ARROW, Speedo, Warner's and Olga brands, and other owned and licensed trademarks. We also license our owned heritage brands for an assortment of products and in a number of geographic regions. We distribute our Heritage Brands products at wholesale, through our own Van Heusen retail stores, which are located in Canada and the U.S. primarily in outlet malls, and online through SpeedoUSA.com, as well as digital commerce sites operated by key wholesale partners and pure-play digital commerce retailers. Business Structure and Overview Our Heritage Brands business is comprised of several category offerings, which shown and detailed below. Dress Furnishings Heritage Brands Sportswear Swimwear Underwear / Core Intimates (1)On April 19, 2016, we entered into an agreement to form a joint venture that will license the rights to operate and manage the distribution of Calvin Klein brand products, along with Tommy Hilfiger, Warner’s, Olga and Speedo, in Mexico. The transaction is expected to occur late in the third quarter of 2016. The Tommy Hilfiger Mexico business is currently operating under a licensing agreement with our partner, Grupo Axo. (2)Retail and Wholesale split excludes licensing revenues. (3)Our acquisition of the 55% interest in the Tommy Hilfiger joint venture in China that we did not already own closed in April 2016, and, therefore, is not included in 2015 results. Our Brands Calvin Klein Tommy Hilfiger Heritage Brands We Are PVH Our Company Our Core Values Leadership Business Groups Growth Strategies Global Supply Chain History Recognitions Business Highlights Investors Memo from our CEO Corporate Governance Stock Price Reports Fundamentals SEC Filings Analysts Earnings Estimates Events People Who Is PVH? 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