US: PVH in talks to buy Tommy Hilfiger - report
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.
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