Calvin Klein Loses Chief Product Officer Following Eva Serrano’s Exit

Calvin Klein is once again shaking up its Calvin Klein leadership. Spanish executive Eva Vidal has left the product management of the iconic brand two and a half years after joining it. Her departure, confirmed by the PVH group to Modaes, comes in a context of reconfiguration of leadership at Calvin Klein, following the departure of another key figure: Eva Serrano, former global president of the firm, who left her position last May.

Vidal was hired in October 2023 as chief product officer, a role in which she was to lead the end-to-end product creation process, setting the overall strategic direction for development and working closely with the design and sourcing departments. He replaced Jacob Jordan, who had held the position of chief merchant and product strategist since 2020.

The executive had an established track record in the fashion business, having spent much of her career with the Inditex group before joining Calvin Klein, where she was part of the design, product and sourcing teams at Zara. In his last stage, he had led the Sustainability Innovation Hub of the Galician giant, focused on the development of new materials and sustainable solutions.

His appointment was presented by Calvin Klein as a commitment to creative and strategic talent. Eva Serrano, then global president of the firm, highlighted at the time Vidal’s inspirational leadership, as well as his ability to strengthen and grow the brand’s product offering.

Calvin Klein will reconfigure its top management after the departure of Spanish executives Eva Serrano and Eva Vidal.

Both executives were part of the so-called Spanish army at Calvin Klein. The president, Eva Serrano, also came from Inditex. Throughout almost two decades, the executive held various positions of responsibility, including the management of the Chinese market. In March 2023, she was appointed global president of Calvin Klein, with the aim of repositioning the brand and strengthening its strategic pillars.

These additions were part of the PVH+ plan, launched in 2020 by the group’s parent company, PVH Corp, with the goal of reaching $5.4 billion in sales for Calvin Klein by 2025. The plan’s axes included strengthening the product, reinforcing the brand experience and greater connection with the consumer.

Vidal’s departure and that of Serrano in a short space of time represent a setback for this strategy. The group, which is now entering a new phase, has not yet detailed who will take over the product functions, nor has it confirmed whether the area will be restructured.

The U.S. group closed the first quarter of the financial year (ended May 4) with a loss of 44.8 million dollars, compared to a profit of 151.4 million dollars in the same period of the previous year. The company attributed this result to the weakness of consumption in the United States and China, the increase in promotions, the greater weight of the multi-brand channel and an increase in logistics costs. Gross margin stood at 58.6%, compared to 61.4% in the first quarter of 2024.

The PVH group increased its first quarter sales to 1.984 billion dollars.

Despite this adverse environment, the PVH Group posted slight sales growth of 1.64% to US$1.984 billion. By region, sales rose by 5% in Europe, the Middle East and Africa; by 7% in the Americas; and fell by 13% in Asia. The conglomerate headed by Stefan Larsson also aims to offset the impact of the macroeconomic context by strengthening its products and a more focused market strategy.

By brands, Tommy Hilfiger, also from the United States, was the best performer in the period, with growth of 3%, driven mainly by Europe and the Americas. Calvin Klein, on the other hand, maintained its turnover stable, despite the launch of new lines, supported by a global campaign starring Puerto Rican singer Bad Bunny.