In the world of fashion many designers and brands are suffering from the state of the economy. When brands are searching for ways the meet their delivery dates and fill orders, Tommy Hilfiger is lounging and its rightfully deserved. The iconic american brand was reportedly sold for close to $3 billion to Phillips- Van Heusen Corp.
PVH is paying roughly $3 billion for Tommy, just over 7.5 times the enterprises value. PVH is also home to american brand Calvin Klein. Now instead of paying the entire amount in cash, PVH paid partly in stock and raised money selling convertible preferred paper to two sophisticated financial investors, LNK Partners and MSD Capital.
Also Tommy has had his best runway show this past season as he closed out Fashion Week in NYC and was the last show at Bryant Park!
Congrats are definitely in order as Tommy has worked so hard in creating a brand that speaks to the soul of Americas youth! With all his hard work, it deserved that he now sit and relax with the joy of his brand!
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Recap of Tommy Hilfigers’ last show at Bryant Park
Tommy Hilfiger As I watched photographers rush over to “Gossip Girl” boys Penn Badgley and Ed Westwick, who were sitting next to Mary-Kate Olsen and Rosario Dawson before fashion week’s final show (Tommy Hilfiger’s Fall 2010 collection) at the Bryant Park tents, the real buzz in the front row was the fact that Peter Som had signed on last fall to consult on Hilfiger’s women’s line. Som’s signature style certainly showed last night.Known for his classic but playful use of color, he strutted his stuff by creating colorful boots with heels (yes, high-heeled duck boots) and showed an urban chic line of smart sportswear reminiscent of a young Katherine Hepburn.
The collection was composed of fetching items like a blue mohair plaid jacket, a double-faced plaid stadium coat, brown houndstooth pants and chocolate leather shorts. The jersey gowns, balloon sleeves and the leather palettes all bespoke of sassy Som—or, as Hilfiger characterized it in the show’s notes, “East Coast pedigree with a whole lot of sass.” The menswear proved no less enticing. Think an English gentleman in New York — a youthful English gent decked out in Kelly green and red, offsetting the glen plaid, or a shawl collared tuxedo accompanied by a midnight cashmere dressing gown. With his gentile take on city and country sportswear, it was only fitting that Mr. Hilfiger, who embodies cool, hip Americana (or “preppy with a pop,” as he noted), capped off New York fashion week.
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