Calvin Klein buys Tommy Hilfiger - March 15, 2010
The European investment fund Apax Partners announced Monday the sale of the brand of leisure wear Tommy Hilfiger American society Philips-Van Heusen (PVH) for about 3 billion dollars (2.2 billion euros). According to PVH, already owns Calvin Klein, this transaction will create "one of the most largest and most profitable" business of fashion.
This is not the first time that the HPV group and Apax Partners are working together. The funds were returned for 23% stake in HVP to help acquire Calvin Klein in 2003, Apax but then sold its shares in 2006 bad credit personal loan lenders .
Apax Partners acquired Tommy Hilfiger in 2005 to 1.6 billion dollars to develop the brand in Europe.Founded in 1984, she achieved fame in the 90s while surfing fashion hip-hop before the sharp decline of its sales overseas. The fund had already sought to part ways in 2007 trying to IPO before giving up due to the credit crisis.
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