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PVH Corp enters into agreement to reacquire Tommy Hilfiger

25
Mar '19
Pic: PVH Corp
Pic: PVH Corp
PVH Corp has entered into a definitive agreement to reacquire from Dickson Concepts Ltd the license for Tommy Hilfiger brand in Hong Kong, Macau, Taiwan, Singapore and Malaysia along with certain related leases and retail assets. The transaction is expected to close in Q2 of 2019 and is aligned with PVH’s strategy of gaining more direct control over its brands.

“This transaction demonstrates our commitment to making strategic investments to support the long term growth of PVH and our Tommy Hilfiger business, while leveraging our well-established infrastructure, our leadership expertise and strong brand momentum across both our Tommy Hilfiger and Calvin Klein businesses in the region,” said Emanuel Chirico, chairman and chief executive officer, PVH Corp in a company press release.

“We are looking forward to executing a more fully integrated strategy for the Greater China market in coordination with our directly operated mainland China business,” said Daniel Grieder, chief executive officer, Tommy Hilfiger Global. “This transaction should allow us to further realise the growth opportunities that exist for the Tommy Hilfiger brand by enabling the introduction of a wider range of product lines, and offering consumers a more immersive and elevated brand experience. Building on our strong existing regional foundation, we plan to accelerate the growth of the Tommy Hilfiger business and invest further in driving the expansion of the brand.”

With a history going back over 135 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. It has over 36,000 associates operating in over 40 countries and nearly $9 billion in annual revenues. (PC)

Fibre2Fashion News Desk – India


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