PHILLIPS-VAN HEUSEN CLOSING IZOD WOMEN’S STORE LINE
NEW YORK — Phillips-Van Heusen Corp. is closing the Izod women’s department store line, part of the Crystal Brands business that PVH acquired in January.
“We wanted to give our attention to the three other [Crystal] businesses,” said Irwin K. Winter, vice president and chief financial officer at PVH, referring to Gant, the Izod men’s department store business and the Izod men’s and women’s pro shop business. Each of these three areas accounts for approximately $50 million in sales.
Winter noted that the firm decided to close the Izod women’s department store business because “it would have required a whole new marketing development.” The one-year-old business generated approximately $1 million in sales.
He noted that substantial growth is planned in the women’s pro business area, given the golf wear trend, but he declined to offer figures.