Lots of fashion companies started by designers on their own have grown large and sold to much bigger companies for vast sums – but this one seems to take the cake. The coin cake. There are just a handfull of billionaires in the fashion business: Miuccia Prada and Ralph Lauren are two. Even Calvin Klein and Donna Karan can’t lay claim to billionaire status, and still they have huge brands. The Juicy Girls have a vast empire, but not at the billion dollar level. But soon, Tommy Hilfiger will be able to enter the billionaire business club. His company is being sold, according to the New York Times Business section today (3/15/10) to Phillips-Van Heusen, the company that owns Calvin Klein, Arrow, Izod, and licenses Geoffrey Beene and Kenneth Cole – for about three billion dollars.
That’s a lot of preppie tee’s. Interesting, the Times notes that two thirds of Hilfiger’s sales are in Europe, and only one third in the U.S. Hilfiger is still the principal designer of his brand and is definitely its public face. We’re not sure that would remain the case when the deal goes through. He’s certainly always been good at wooing celebs and travelling in very important circles. Here he is with Beyonce’. Khaki’s, t-shirts and cotton clothes – for 3 billion dollars. Sure makes you think.
