PVH opens up sustainability performance-based financing for suppliers
US apparel group PVH has joined hands with British multinational bank Standard Chartered to make discounted financing available to qualified supply chain partners that meet its internal environmental, social and employment-related sustainability standards.
The initiative has been designed to incentivise the New York-headquartered fashion business’ global supply base on a day-to-day operational level, including all those engaged in readying jeanswear and other articles developed for flagship brands Calvin Klein and Tommy Hilfiger for retail.
“Trade finance has the unique ability to engage and incentivise companies across supply chains and improve working and environmental standards,” commented the bank’s head of trade sales for the Americas, João Galvão.
“We are extremely proud of the opportunity to expand upon our global supplier finance partnership with this initiative and support PVH’s environmental, social and governance commitments.”
On behalf of PVH, group chief sustainability officer, Rick Relinger, added: “Through improved access to financing, our suppliers are empowered to invest in their businesses and people and contribute to our goals of advancing human rights in our supply chain.”
Image: Tommy Jeans’ latest collaboration, with UK streetwear brand Aries
