EUROPE: Tommy Hilfiger to bring tailored business in-house
By Petah Marian | 25 October 2011
Tommy Hilfiger plans to bring its European tailored apparel business in-house from the spring 2013 season, in a move designed to help boost its growth in the region.
The PVH-owned brand entered the European market in 1998 through a licensing agreement with the Holy Fashion Group. Through the partnership, Tommy Hilfiger began offering tailored clothing, dress shirts and ties.
"This acquisition represents an exciting opportunity for us to build further on the solid base that the Holy Fashion Group has developed over the years," said Tommy Hilfiger Europe CEO Daniel Grieder.
"By directly integrating the business into the overall Tommy Hilfiger European organisation and commercial infrastructure, we feel we can develop further areas of potential throughout the region. In addition we can also take advantage of PVH's status as the world's largest dress shirt company."
The new in-house tailored division will be led by Michael Berngruber who will be vice president, tailored clothing Europe. Bergruber has held various managerial positions at Hugo Boss.
Marcel Ostwald will also join the Tommy Hilfiger Group as the tailored division's creative director. He was most recently senior head of creative management for Boss Selection and tailored lines.
The Tommy Hilfiger Group said the division represents "well over US$100m in retail value", but did not reveal the value of the transaction. It expects the deal to close by 31 December 2012.
Companies: Tommy Hilfiger, Hugo Boss
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