Tommy Hilfiger Group and Inbrands S.A. Announce Joint Venture to Operate the Tommy Hilfiger Business in Brazil
SÃO PAULO & NEW YORK--(BUSINESS WIRE)--Nov. 13, 2012--
Inbrands S.A., a publicly held company with no shares registered for
trade, and The Tommy Hilfiger Group, which is wholly owned by PVH Corp.
(NYSE: PVH), announced today that they have formed a joint venture,
Tommy Hilfiger do Brasil S.A., which will hold the rights to operate,
manage and distribute certain Tommy Hilfiger branded products in
Brazil. The partnership, which also includes American Sportswear S.A.
(“ASSA”) as a minority partner, will begin its wholesale and retail
operations on January 4, 2013. ASSA is the current distributor for the Tommy
Hilfiger brand in Brazil, and will continue to operate its Tommy
Hilfiger businesses in all other countries in South America, Central
America and the Caribbean. Terms of the joint venture were not disclosed.
The move permits Tommy Hilfiger to be directly involved in the
stewardship of the Tommy Hilfiger brand in Brazil, and reflects
its strategy of acquiring direct interests in the Tommy Hilfiger
businesses in key markets globally.
“This move allows us to directly support the development and expansion
of our retail and wholesale business in Brazil,” said Fred Gehring, CEO
of The Tommy Hilfiger Group. “Similar to our expansion strategy in other
markets, this partnership will allow for accelerated growth in one of
the world’s most exciting, high growth emerging markets.”
Inbrands markets and manages global lifestyle and premium fashion brands
in Brazil, including a strong portfolio of iconic global and local
Brazilian brands. Inbrands’ extensive multichannel distribution network
includes brand-owned stores, franchises, multi-brand retail stores and
e-commerce retailers. Their outstanding performance in the market
confirms Inbrands’ position as a key player in the Brazilian retail
landscape. Inbrands will handle the day-to-day operations of the joint
venture.
“I look forward to growing and developing the Tommy Hilfiger business in
Brazil with The Tommy Hilfiger Group and ASSA,” said Alexandre Brett,
Brand Director of Inbrands S.A. “The Tommy Hilfiger brand is a
market leader in the premium designer fashion sector, and there is a
tremendous level of consumer interest for the brand. Brazil is one of
the world’s most dynamic and growing retail landscapes, and we are very
excited to begin this joint venture.”
“We have established a strong partnership with Inbrands and ASSA with
this joint venture,” added Mr. Gehring. “Their expertise in the
country’s apparel market is essential as we continue to firmly establish Tommy
Hilfiger as a premium lifestyle brand in the region.”
About The Tommy Hilfiger Group
With a premium lifestyle brand portfolio that includes Tommy Hilfiger,
Hilfiger Denim and Tommy Girl, the Tommy Hilfiger Group is
one of the world’s most recognized designer apparel groups. Its focus is
designing and marketing high-quality menswear, womenswear, children’s
apparel and denim collections. Through select licensees, the Group
offers complementary lifestyle products such as sportswear for men,
women, juniors and children; footwear; athletic apparel (golf, swim and
sailing); bodywear (underwear, robes and sleepwear); eyewear; sunwear;
watches; handbags; men’s tailored clothing; men’s dress furnishings;
socks; small leather goods; fragrances; home and bedding products;
bathroom accessories; and luggage. The Hilfiger Denim product
line consists of jeanswear and footwear for men, women and children;
bags; accessories; eyewear and fragrance. Merchandise under the Tommy
Hilfiger brands is available to consumers worldwide through an
extensive network of Tommy Hilfiger retail stores, leading
specialty and department stores and other select retailers and retail
channels.
About PVH Corp.
PVH Corp., one of the world’s largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world’s largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen, Calvin
Klein, Tommy Hilfiger, IZOD, ARROW, Bass
and G.H. Bass & Co., and its licensed brands, including Geoffrey
Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL
Michael Kors, Sean John, Chaps, Donald J. Trump
Signature Collection, JOE Joseph Abboud, DKNY, Ike
Behar and John Varvatos.
About Inbrands S.A.
Inbrands is a leading platform for the managing and consolidation of
lifestyle and premium fashion brands regarded as “iconic brands” in
Brazil. Inbrands´ focus is the acquisition, development and professional
and efficient management of high end renowned brands with potential for
high returns, innovation and wide distribution and exposure in Brazil.
Inbrands has a multichannel distribution network with nationwide
presence and a flexible production model.
About The American Sportswear Group
The American Sportswear Group is the distributor of Tommy Hilfiger
and Hilfiger Denim products for Latin America and the Caribbean.
Since 1986, the company has successfully taken the diversity of products
under the Tommy Hilfiger brand to all the countries in the
region. As a leader in the industry, The American Sportswear Group
represents a range of products including: menswear, womenswear,
childrenswear and licensing products that include footwear, accessories
and fragrances.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: Forward-looking statements made in this release,
including, without limitation, statements relating to the future plans,
strategies, objectives, expectations and intentions of PVH Corp. and its
subsidiaries (collectively, “PVH”) are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements are
inherently subject to risks and uncertainties, many of which cannot be
predicted with accuracy, and some of which might not be anticipated,
including, without limitation, the following: (i) PVH’s plans,
strategies, objectives, expectations and intentions are subject to
change at any time at its discretion; (ii) PVH uses a significant
portion of its cash flows to service its indebtedness, as a result of
which PVH might not have sufficient funds to operate its businesses in
the manner it intends or has operated in the past; (iii) acquisitions
and issues arising with acquisitions and proposed transactions,
including without limitation, the ability to integrate an acquired
entity, into PVH with no substantial adverse effect on the acquired
entity’s or PVH’s existing operations, employee relationships, vendor
relationships, customer relationships or financial performance; and (iv)
other risks and uncertainties indicated from time to time in PVH’s
filings with the Securities and Exchange Commission.
The Company does not undertake any obligation to update publicly any
forward-looking statement, whether as a result of the receipt of new
information, future events or otherwise.
Source: PVH Corp.
Investors:
Dana Perlman, 212-381-3502
Treasurer, SVP –
Business Development and Investor Relations
or
Media:
Zach
Eichman, 212-548-1978
zacheichman@tommy.com
or
Tiffin
Jernstedt, 31 20 709 8076
Tiffin.jernstedt@tommy.com