Tommy&Nbsp; Hilfiger&Nbsp; Will Be The European Custom Clothing Authorization Under The Command.
Tommy Hilfiger Group, a wholly owned subsidiary of PVH Corp. [NYSE: PVH], announced today that it has reached an agreement that it will start to customize Europe from the spring of 2013.
clothing
Business is under command.
Tommy Hilfiger customised apparel was introduced into the European market in October 1998 under an authorization agreement, operated by Holy Fashion Group.
Through this partnership, Tommy Hilfiger started making advanced custom costumes, shirts and ties. This business has been very successful, and its retail value is far more than $100 million.
The paction is expected to be completed by December 31, 2012.
Holy Fashion Group will continue to operate this business until the paction is completed.
Trading
Finance
The terms have not yet been published.
"This paction is an excellent opportunity for us to further develop the strong foundation that Holy Fashion Group has built up in the past few years," said Daniel Grieder, chief executive of Tommy Hilfiger Europe.
By integrating this business directly into the whole European sector and business structure of Tommy Hilfiger, we believe we can further explore the potential of this region.
In addition, we can make full use of PVH's position as the largest shirt manufacturer in the world.
We want to thank Holy Fashion Group for its efforts to build a strong enterprise.
Custom clothing is a very professional product. In this regard, we are very pleased to have experienced management team to lead the new department.
Reiner Pichler, chief executive of Holy Fashion Group, said: "we have made remarkable progress in the past 13 years, mainly because the Tommy Hilfiger brand has been recognized as true.
Global
Effect.
Holy Fashion Group will continue to focus on developing our own brand and Tommy Hilfiger business until the paction is completed.
I believe that Tommy Hilfiger business and Holy Fashion Group's own brand will grow further in the next few years.
After the integration, the new business department of customized clothing will be run by Michael Berngruber. He will join Tommy Hilfiger Group as vice president of the European garment industry.
Michael will bring more than 25 years of experience in the fashion industry. Over the past 10 years, he has held multiple management positions in Hugo Boss.
Michael will report to Mr. Grieder.
Marcel Ostwald will also join Tommy Hilfiger Group as the creative director of the custom garment business department.
Marcel has more than 9 years of experience in the field of custom-made clothing, and has recently served as senior director of Boss Selection and Tailored series innovation management department.
Introduction to Tommy Hilfiger Group
Tommy Hilfiger Group, one of the most recognized designer clothing groups in the world, has many high quality fashion brands such as Tommy Hilfiger and Hilfiger Denim.
The company focuses on designing and selling high quality products.
Men's wear
Women's wear, children's wear and cowboy products.
The company also provides accessories, perfume and home accessories for fashion products through selected authorized operators.
Consumers around the world can buy Tommy Hilfiger brand products through Tommy Hilfiger's huge retail network, leading boutiques and department stores, and other selected retailers and retail outlets.
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