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Is PVH on the path to becoming the American version of LVMH? It was announced yesterday that Phillips Van Heusen added the Tommy Hilfiger empire to its stable of fashion brands—which currently includes Calvin Klein, Izod, Bass, and the licenses for brands including BCBGMaxAzria, Chaps, Sean John, Kenneth Cole New York, and Michael Michael Kors. On the outset, it looks to be a win-win situation, as the Hilfiger brand brings in more than $4.3 billion in revenue annually.
Tommy was already on a roll before this major payday came along. After surviving rocky times in the 90s –no doubt due to a mass cheapening of a brand thanks to visible underwear bands – they’ve been back in the business of making knock-out preppy red, white and blue Americana designs. As a result, Hilfiger expanded their number of stores since 2006, struck a deal with US mega-retailer Macy’s, and hired more than 1,000 new people.· Mega Fashion News Flash: PVH acquires Tommy Hilfiger [Telegraph]