Tommy Hilfiger B.V.

Tommy Hilfiger B.V., formerly known as Tommy Hilfiger Corporation and Tommy Hilfiger Inc., is an American clothing brand, manufacturing apparel, footwear, accessories, fragrances and home furnishings. The company was founded in 1985, and the brand's merchandise is sold in department stores and over 2000 free-standing retail stores in 100 countries. In 2006, private equity firm Apax Partners acquired the company for approximately $1.6 billion. In March 2010, PVH Corp. (then known as Phillips-Van Heusen) bought the company. Daniel Grieder was appointed CEO in July 2014, while founder Tommy Hilfiger remains the company’s principal designer, leading the design teams and overseeing the entire creative process. Global sales in retail through the brand were US $6.4 billion in 2013, and $6.7 billion in 2014. History Background and founding (1960s–1990s) Tommy Hilfiger’s career in fashion began in 1968, when he co-founded a clothing and record store named People’s Place in upstate New York. Using $150 he had saved from working at a gas station as startup money, he oversaw the expansion of the company into a chain of ten stores. Despite meeting with initial success, People's Place filed for bankruptcy in 1977. In 1979, Hilfiger moved to New York City to pursue a career as a fashion designer, working on several different labels including Jordache Jeans. In the early 1980s, he met Mohan Murjani, an Indian textile magnate hoping to launch a line of men’s clothing. With Murjani’s backing in 1985, Hilfiger debuted his first signature collection, which featured modernized versions of button-down shirts, chinos, and other classic preppy styles. The casual and youthful attitude of these first designs would remain a trait of the company's later collections. The new clothing line made its debut with a high-profile marketing campaign, which included a large billboard in Times Square by advertiser George Lois.