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PVH to regain control of Tommy Hilfiger brand in five Asian markets

U.S. apparel maker PVH Corp. said March 24 it agreed to reacquire the license for its Tommy Hilfiger brand in Hong Kong, Macau, Taiwan, Singapore and Malaysia from investment holding company Dickson Concepts (International) Ltd.

Financial terms of the deal were not disclosed, but PVH said the transaction also includes the transfer of certain related leases and retail assets of the Tommy Hilfiger brand in those markets.

New York-based PVH, which also owns the Calvin Klein, Van Heusen, Izod, Speedo and Warner's brands of clothing, said the deal is expected to close in the second quarter of 2019.

PVH added that the move is aligned with its strategy of gaining more direct control over its brands, including through the acquisition of licensed businesses.

The deal comes about eight years after PVH formed a joint venture, called TH Asia Ltd., that assumed direct control of the Tommy Hilfiger brand in China from the prior licensee, Dickson Concepts. At the time, PVH only held 45% of the JV.

In 2016, PVH and funds advised by Apax Partners acquired the remaining interest in TH Asia, giving the American clothing company full control of the Tommy Hilfiger brand in China.

Meanwhile, New York's G-III Apparel Group Ltd. earlier confirmed to Women's Wear Daily that it is in talks to acquire the license for PVH's Calvin Klein Jeans brand for North America.