strtotime:
ISO year with ISO week YY "-"? "W" W "2008W27", "2008-W28"
strftime:
%W A numeric representation of the week of the year, starting with the
first Monday as the first week 46 (for the 46th week of the year
beginning with a Monday)
%V ISO-8601:1988 week number of the given year, starting with the
first week of the year with at least 4 weekdays, with Monday being the
start of the week 01 through 53 (where 53 accounts for an overlapping
week)
So probably you should use
echo $date = utf8_encode(strftime('%B %Y, week %V', strtotime('2015W38')));
Desclaimer: I am not proficient with php, so please do validate my thoughts.
EDIT>
As @syck adds: ISO 8601 counts weeks from 01 and the first week is the one with the year's first Thursday in it (see here).