PVH Corp has entered into a licensing agreement with Nike for the design, sourcing, marketing and worldwide distribution of Nike-branded men’s underwear. This is an opportunity for the two companies to build on each other’s strengths, making it a win-win for everyone, especially consumers.

Nike men’s underwear will join PVH Corp’s The Underwear Group, a portfolio of brands that already includes Calvin Klein, Tommy Hilfiger, Olga, Warner’s and True & Co. In addition PVH owns the Van Heusen, Speedo and Izod brands. Nike branded men’s underwear will be produced by PVH’s Center of Excellence for Underwear, an innovative platform meant to drive efficiencies across the company’s supply chain by sharing best practices and leveraging core competencies in key product areas. PVH shares complementary commitments to quality standards and corporate responsibility with Nike.

For the fourth quarter PVH Corp’s revenues dipped one per cent. Earnings before interest and taxes for the quarter increased to $134 million from $58 million in the prior year period. PVH Corp earned nearly $9.7 billion in revenue in 2018. Nike’s revenues for the third quarter were up 12 per cent, driven by growth across wholesale and Nike Direct categories, including sportswear and Jordan, and continued double-digit growth across footwear and apparel.