Stefan Larsson: And then, Chris, when it comes to the leadership searches we have, I’m excited to share that we’re making really strong progress. So within the next few weeks, I look forward to update you all on what that means, both for the Calvin Klein global brand and for our North America businesses. And to your questions about how this connects to the talent choices, the leadership choices connect to the transition of the G-III categories, definitely it connects to the PVH+ Plan. So we are about to land leaders who will bring some different forms of best-in-class experience that helps us unlock both Calvin and Tommy. So yes, very excited and looking forward to in a few weeks time to just give you an update. We have time for one more question.
Operator: Thank you. Our last question will come from Ed Yruma with Piper Sandler. Your line is now open.
Edward Yruma: Hi. Good morning, guys. Thanks for taking the questions. I guess one short-term question as you think about the G-III licenses, I know you said there’s no near-term financial impact, but how do you think about building talent in preparation for taking those licenses in ’25 through ’27? And then Stefan as a longer term question, it seems like U.S. wholesale, one of your competitors is kind of advocating some of these more premium price points. So can you talk about the whitespace you think that you have, given that you’re able to kind of reposition some of your brands as a more premium product? Thank you.
Stefan Larsson: Yes, definitely. So starting from your questions about whitespace or opportunity, so as I mentioned in my prepared remarks, I’ve been out traveling extensively this past week and Thanksgiving weekend while seeing a number of our U.S. markets. And just seeing the love for both Calvin and Tommy, the consumer love in the North America market and the opportunity we have too in a more disciplined way tap into that. So we have great partnerships with our wholesale partners. We have great locations within those stores. And we have an end consumer that loves our brands. So where we have opportunity, it connects to the PVH+ focus which is better disciplined on the product categories that really matters that are big for the consumer essential and where we have the right to play to win, and that we build the best hero products within those.
And when we do today — it’s early days, but where we do that today, we see that we win. We win immediately. It’s one to one. As soon as we play in the right category with the right hero products, we drive the revenue and we drive — we don’t see any price resistance. So it’s very exciting to see that getting closer to excellence in product and then combining that with the consumer engagement and the talent that then the product and the consumer engagement that shows up in social media, shows up in e-commerce and increasingly in our stores, it’s just exciting potential. Every time I’m out walking stores, I see it and it’s so concrete.
Zac Coughlin: And then I think to add, I’m sure Stefan will want to comment on the build out of the talent capability for the categories coming in. But just to sort of start a little bit, I think if you think about from a financial perspective on that, we already do great product creation all around the world and we’ve got great supply chain capabilities as well. And so I think we believe that we’ve got a good amount of the infrastructure in place from a financial perspective that we talked about not seeing a material impact to the financials over this medium-term period. That’s what gives us the confidence, as Stefan will talk about how we go about building out some of the actual capabilities themselves.
Stefan Larsson: Yes, we have both the time — the time plan is setting ourselves up in a very good way to, as Zac mentioned, that one is to leverage the capability we already have because we have a lot of these capabilities and we see that with those leaders and teams and capabilities we’re able to drive winning and winning big in both Europe and Asia. So we see that, one is tapping into that. And two is to complementing our team strength, leadership strength here. So we’re doing both and having this time to ramp that up.
Edward Yruma: Thank you.
Stefan Larsson: Thank you very much, Ed. And with that, we want to thank all of you who are following us and wish you a really good restful holiday and looking forward to catching up in the new year. Thank you.
Operator: Thank you. Ladies and gentlemen, this concludes today’s event. You may now disconnect.
