Tommy Hilfiger Bought by Calvin Klein

From the world of fashion:

Private equity firm Apax partners has sold it’s majority stock to Phillip-Van Heusen, a $3 billion deal. Apax originally purchased their share in 2006 for $1.6 billion. Apax still retains a percentage of Tommy Hilfiger.

The founder of the company, Tommy Hilfiger, hopes to remain active in the company. Tommy Hilfiger has focused on American styling. The aim of the change is to expand the Hilfiger brand, especially overseas.

Phillip-Van Heusen’s lines include Calvin Klein, Van Heusen, Arrow, IZOD, and Bass. So far, Phillip-Van Heusen stock shows a positive reaction to the deal. It rose 9% on Monday. This deal creates one of the world’s largest clothing companies.

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Posted on March 16, 2010, in Global Biz, Stocks, Bonds, & Funds and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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