China adds PVH to ‘Unreliable Entity List’, stock dips

BEIJING – Shares of PVH Corp., the parent company of Calvin Klein and Tommy Hilfiger, tumbled 5.4% last week in response to China’s decision to designate the company as an ‘unreliable entity’.
The designation, announced on Tuesday, exposes PVH to potential restrictions or outright bans on trade, investment, and other economic activities within China, including restrictions on the entry of personnel or its operations in the country.

The move comes more than four months after China’s Ministry of Commerce initiated an investigation last year under its Provisions on the Unreliable Entity List, and was accompanied by criticism in the local media of US and European companies for “stirring up trouble over human rights in Xinjiang.”