News Flash

Tommy Hilfiger to acquire European footwear rights

27 Jul '07

2 min read

The Tommy Hilfiger Group announced that it has acquired Tommy Hilfiger Footwear Europe GmbH, its European licensee based in Osnabruck, Germany.

"Tommy Hilfiger footwear was introduced to the European market back in 2002 when we signed a license with Hamm Shoe & Accessories Company GmbH. In a short five year period it has developed into a highly successful business with sales in Europe exceeding Euro 60 million (US$ 81.0 million). The brand is extremely well positioned and, like most other divisions of the group, experiences very strong sell through.

We believe that there will be strong continued growth in the future and that integration within the Tommy Hilfiger Group will optimize activities both in terms of product development as well as commercially. This acquisition is in line with our strategy to consolidate brand management and approach the market in the most coordinated manner possible. " said Fred Gehring, Chief Executive Officer of Tommy Hilfiger Group.

Dr. Hans-Peter Hamm, president of the Hamm Shoe & Accessories Group and stepping down as Managing Director of Tommy Hilfiger Footwear stated: "We have experienced a spectacular business development during the last five years, not in the least due to the fact that the Tommy Hilfiger brand is truly a global powerhouse.

It has been a huge pleasure to have worked with the Tommy Hilfiger organization. I would like to thank all the members of the footwear team for their amazing work during these five incredible years. I am confident that the business will have many more successful years of growth."

More Tommy Hilfiger Corporation News... More Fashion News - United States Of America...