
PVH buys the remaining shares in its Tommy Hilfiger China joint venture to take full ownership.

The purchase price of the transaction is roughly $172 million and the deal is expected to close in the second quarter of this year.
Eventually taking full ownership of the joint venture was always part of the plan, since PVH and the funds advised by Apax Partners established the joint venture in connection with the Tommy Hilfiger acquisition in 2010.
Since 2012, the first year of operations after the joint venture acquired Tommy Hilfiger China from its former licensee, the Tommy Hilfiger business in China has doubled from nearly $70 million in revenue to a projected $140 million in revenue for 2015 with more than 350 stores.
“We are looking forward to executing a more fully integrated strategy for China that takes advantage of our current momentum in the region,” says Daniel
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