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[NYSE:PVH] announced today that its Tommy Hilfiger Licensing LLC subsidiary has entered into a license agreement with Peerless Clothing International, Inc. for the Tommy Hilfiger men's tailored clothing business for North America beginning January 1, 2018. The business is currently operated by Marcraft Clothes, Inc. PVH is moving the license to Peerless in order to consolidate the North America men's tailored businesses for all of its brands under one partner. In connection therewith, the terms of all the licenses were amended to run through at least December 31, 2022. No other terms were disclosed. Emanuel Chirico, Chairman and CEO of PVH said, "We have had a long-standing and successful relationship with Peerless, which has been the licensee for our Calvin Klein, Van Heusen, and IZOD brands for several years. We believe it best serves the needs of our Company and brands to have all of the men's tailored businesses under the direction of one partner and that Peerless is well-positioned to build upon the success to date of the Tommy Hilfiger men's tailored clothing business." Alvin Segal, Chairman and CEO of Peerless Clothing International said, "We are pleased and honored that PVH has chosen to have Peerless as its licensee in North America for all its brands for men's tailored clothing." "We are excited to expand our relationship with PVH to include the Tommy Hilfiger brand," added Ronny Wurtzburger, President, Peerless Clothing International. "We believe that the brand's rich American heritage and preppy with a twist designs will be a great addition to our offerings under PVH's brands and will allow us to better serve all of PVH's businesses and consumer tastes." About PVH Corp. With a history going back over 130 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world.We haveover 30,000 associates operating in over 40 countries and over $8 billion in annual revenues.We ownthe iconic Calvin Klein , Tommy Hilfiger , Van Heusen , IZOD , ARROW , Speedo* , Warner's and Olga brands, and market a variety of goods under these and other nationally and internationally known owned and licensed brands. *The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International, Limited.
For the original version including any supplementary images or video, visit https://www.thestreet.com/story/13964524/1/pvh-corp-to-license-tommy-hilfiger-mens-tailored-clothing-business-for-north-america-to-peerless.html
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