Manhattan, New York-based Phillips-Van Heusen, the apparel company that owns brands such as Calvin Klein, Kenneth Cole and Izod, announced Monday that it would acquire Tommy Hilfiger from private-equity firm Apax Partners in a $3 billion buyout deal. Apax acquired Hilfiger in 2006 for $1.6 billion.
The Tommy Hilfiger brand – preppy, lots of color – debuted in 1985 with a clothing line for men, then expanded into shoes, accessories, fragrance and home products for men, women and kids. The Hilfiger brand really shot through the roof in the ’90s, but by the later part of the decade consumer tastes were shifting and Hilfiger was no longer the ‘it’ fashion brand.
VIA GLOBAL14
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