Is Tommy up for sale?

Is Tommy up for sale?

US apparel firm Phillips-Van Heusen (PVH) is reportedly in talks to buy fashion brand Tommy Hilfiger.

According to an article in The New York Post newspaper, PVH could land the Netherlands-based company in a deal worth US$4bn.

Tommy Hilfiger's private equity owners, Apax Partners, abandoned an initial public offering (IPO) for the company in January 2008, blaming volatile market conditions.

In October 2009, the fashion brand delivered a 3.5% increase in first half sales, boosted by a surge in retail revenues from its European business.

PVH, whose stable of brands already include Van Heusen, Calvin Klein, IZOD, also licenses Tommy Hilfiger shirts in the US.

A spokesperson for Apax made no comment on today's (3 March) reports, while spokespeople for PVH and Tommy Hilfiger were not available.