Marcraft operates the business under license from Tommy Hilfiger Licensing LLC, a wholly owned subsidiary of PVH. As part of the transaction, PVH will acquire certain assets related to the licensed business and the license agreement would be terminated effective December 31, 2017.
“We thank the Marcraft team for its partnership and for building a successful men’s tailored clothing business for the Tommy Hilfiger brand in North America. However, we believe it best serves the needs of our company and brands to have all of the men’s tailored businesses under the direction of one partner,” said Emanuel Chirico, chairman and CEO of PVH.
“We believe our longstanding relationship with Tommy Hilfiger and PVH has allowed us to drive the growth of the Tommy Hilfiger men’s tailored business in North America and our overall business over the last eight years,” said Gary Brody of Marcraft.
“We believe the expertise we have developed will serve us well as we continue to operate our other existing businesses and identify future opportunities for growth,” said Jeffrey Brody of Marcraft.
Terms of the transaction were not disclosed. (KD)
Fibre2Fashion News Desk – India
Gem Enviro Management Pvt Ltd
There are no significant differences between virgin yarn and PET recycled...
Textile industry, India
Such fairs are a must for industry to showcase new innovations
Relaxation in FDI norms will support growth of retail sector
Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...
Savio Macchine Tessili is at the head of a group that holds a know-how of...
Fynd is the central online shopping destination for fashion, offering...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Directa Plus SpA
Established in 2005, Direct Plus SpA, is one of the largest producers and...
Glen Raven Inc
Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Hemant & Nandita
Hemant & Nandita
The designer duo of Hemant & Nandita are known for being inspired by...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...