US apparel firm Phillips-Van Heusen (PVH) is reportedly in talks to buy fashion brand Tommy Hilfiger. According to an article in The New York Post newspaper, PVH could land the Netherlands-based company in a deal worth four billion dollars.
Tommy Hilfiger's private equity owners Apax Partners abandoned an initial public offering for the company in January 2008, blaming volatile market conditions.
In October 2009, the fashion brand delivered a 3.5 per cent increase in first half sales, boosted by a surge in retail revenues from its European business.
PVH whose stable of brands already include Van Heusen, Calvin Klein and IZOD also licenses Tommy Hilfiger shirts in the United States.
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