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PVHCorp Completes Heritage Brands Sale to ABG for $ 223 Million

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US-based PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger, has completed the previously announced sale of certain intellectual property and other assets of the Heritage Brands business to the Authentic Brands Group (ABG). The purchase price for this transaction, including the trademarks Izod, Van Heusen, Arrow and Geoffrey Beene, was $ 223 million.

“PVH enters a new growth chapter, running against the priorities of accelerating recovery, with a clear focus on maximizing the potential of iconic global growth brands Calvin Klein and Tommy Hilfiger. We also believe that ABG is in a good position to further develop and support the previous Heritage brand for future success. ” PVH Corp, CEO, Stefan Larsson, Said in a statement.

“On behalf of PVH, I would like to thank everyone who is part of the Heritage Brands team and has helped us become a strong and global company today,” Larsson added.

PVH will continue to own and operate the Warners-led underwear and underwear business, as well as the dress shirt and neckwear business, including under brands sold under license from ABG.

PJ Solomon is PVH’s exclusive financial adviser to the transaction, and Wachtell, Lipton, Rosen & Katz are legal advisers.

Fiber2Fashion News Desk (KD)

US-based PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger, has completed the previously announced sale of certain intellectual property and other assets of the Heritage Brands business to the Authentic Brands Group (ABG). The purchase price for this transaction, including the trademarks Izod, Van Heusen, Arrow and Geoffrey Beene, was $ 223 million.



PVHCorp Completes Heritage Brands Sale to ABG for $ 223 Million

Source link PVHCorp Completes Heritage Brands Sale to ABG for $ 223 Million

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