Peerless Clothing will take on the Tommy Hilfiger men’s tailored clothing business, beginning Jan. 1, 2018.

PVH Corp., worldwide owner of the Tommy Hilfiger trademarks, has found a new joint venture partner for the brand’s men’s tailored clothing business in North America–Peerless Clothes International.

The business is currently operated by Marcraft Clothes; however, 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.

“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,” says Emanuel Chirico, chairman and chief executive officer, PVH. “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.”

Peerless will take on the Tommy Hilfiger license beginning Jan. 1, 2018. In addition, the terms of all the licenses were amended to run through at least Dec. 31, 2022. No other terms were disclosed.

“We are excited to expand our relationship with PVH to include the Tommy Hilfiger brand,” says Ronny Wurtzburger, president, Peerless Clothing. “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.”

Ken Wyse, president of global licensing and PR at PVH, will be offering exclusive insights into the world of fashion licensing at the NYC Licensing Summit, March 2-3. To find out more and buy tickets while they last, click here.