Phillips-Van Heusen Corp in Talks to Buy Tommy Hilfiger
Bloombergreports that Phillips-Van Heusen (PVH) is in talks to buy Tommy Hilfiger from Apax for as much as $4 billion. Brands PVH owns include Calvin Klein, VanHeusen and Izod. PVH also holds key licenses to many other brands. A Financial Timesarticle says Apax is more likely to sell Tommy Hilfiger than to try an IPO.
One person familiar with the situation said Apax viewed a sale to a rival fashion group as its most likely course of action for Tommy Hilfiger, instead of an initial public offering or a sale to another private equity group.
Although Tommy Hilfiger suffered in the late 1990s and at the turn of the century from being first adopted and then abandoned by the rap music community, it has recently enjoyed something of a surge in popularity.
It was the brand that closed New York fashion week in February. After a brief flirtation with more edgy clothing styles that fell flat, the brand has settled for a more all-American style, focusing on sporty separates.
The New York Poststory says PVH could close the purchase "within a week or two."
Bloomberg 
