New York—PVH Corp., which markets Calvin Klein and Tommy Hilfiger brands, said Tuesday that it took a minority stake in “the parent company of the Karl Lagerfeld brand.” Terms of the deal were not disclosed.
PVH said it would benefit from the investment in the growing designer label and also includes the right of first offer to license the brand for North America, which has primarily been focused in Europe and Asia.
‘Aggressive Growth Strategy’
Commenting on PVH’s stake, Pier Paolo Righi, president of Karl Lagerfeld B.V., said: “We are excited to have PVH as a shareholder. We have ambitious plans for the business and have embarked on an aggressive growth strategy, opening a new store every three weeks over the last six months. We believe PVH’s strong track record in supporting the growth opportunity of global designer lifestyle brands will be a big asset.”
Karl Lagerfeld was part of the Tommy Hilfiger Group until PVH acquired the Group in 2010, when it was then spun off to the Group’s former shareholders. Other investors in Karl Lagerfeld include Apax Funds, the Chou Group, Tommy Hilfiger and Fred Gehring, chief executive at Tommy Hilfiger.
PVH Corp., one of the world’s largest shirt and neckwear companies, markets a variety of goods, including accessories, under its own brands, Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s and Olga, and its licensed brands, including Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, Joseph Abboud, DKNY, Ike Behar and John Varvatos.