Preppy Tommy Hilfiger is being acquired for $3 billion by Phillips-Van Heusen, the parent company of Calvin Klein, Kenneth Cole, Michael Kors and DKNY. The purchase from the private equity firm Apax Partners will make Phillips-Van Heusen the fourth largest apparel company in the world, up from tenth.
March 18, 2010 at 12:00 AM
1 minute read
Preppy Tommy Hilfiger is being acquired for $3 billion by Phillips-Van Heusen, the parent company of Calvin Klein, another iconic American apparel brand.
The $3 billion purchase from the private equity firm Apax Partners will make Phillips-Van Heusen the fourth largest apparel company in the world, up from tenth. The combined company’s revenue will total about $4.6 billion.
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