American clothing giant PVH Corp. and G-III Apparel Group, Ltd. have announced that Tommy Hilfiger Licensing LLC, a wholly owned subsidiary of PVH, and G-III have entered into a multi-year license agreement for the design, production and distribution of Tommy Hilfiger womenswear collections in the US and Canada, which includes PVH's current women's sportswear business and additional categories to be licensed, including suit separates, performance and denim.
These categories are in addition to dresses, men's and women's outerwear and luggage, which are already licensed to G-III by Tommy Hilfiger. Macy's will continue to be the principal retailer of Tommy Hilfiger in the US and men's and women's sportswear will continue to be a Macy's exclusive offering, PVH Corp. said in a press release.
The partnership will support PVH's strategy to drive the long term potential for the Tommy Hilfiger womenswear business, specifically through an increased focus on maximizing its North America opportunity by leveraging G-III's category and market expertise. The first offerings of the added categories under the new license are expected to be launched for the 2016 holiday season. The license agreement has an initial term of five years and a renewal term of four years.
Emanuel Chirico, Chairman and CEO, PVH Corp., said, “G-III is a long-term strategic partner for our Calvin Klein womenswear collections and has done a tremendous job growing our overall Calvin Klein women's business in North America. An expanded partnership with G-III represents a significant opportunity to leverage their market expertise to drive the continued expansion of the Tommy Hilfiger women's apparel categories.”
“We have already developed a strong working relationship with Tommy Hilfiger and our strategic partnership with PVH is even more powerful with the addition of this new business. We look forward to the opportunity to build a substantial profitable business for Tommy Hilfiger womenswear in the U.S. and Canada,” said Morris Goldfarb, Chairman, CEO and President, G-III.
Daniel Grieder, Chief Executive Officer, Tommy Hilfiger, commented, “We are confident that a partnership with G-III will unlock the great potential we see for our women's collections in the U.S. and Canada and support our strategy of elevating our brand positioning.” (SH)
Fibre2Fashion News Desk – India