NEW YORK – PVH, which owns the Tommy Hilfiger and Calvin Klein brands, recorded revenues of nearly US$9.7bn for FY2018 ,with online revenues breaking the US$1bn mark. Full year revenues for 2018 were 8 per cent up compared to 2017. Eye-catching in the company’s annual financial report, however, was a note that the business made losses in Ethiopia via its partnership with Indian textile business, Arvind Limited. PVH, which has made significant commitments to Ethiopia, sources from seven factories in the country, one of these being a joint venture with Arvind in which PVH holds a 75 per cent stake. Company accounts show the venture has made a loss for two years running, offering further evidence of the challenges faced by brands in sourcing from the country, where logistical and manpower issues remain a cause for concern.