The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
The owner of Tommy Hilfiger and Calvin Klein has revealed that it is closing its heritage brands retail business as part of efforts to streamline its operations in North America in the wake of the Covid-19 pandemic.
Fashion retailer Arvind Fashions plans to raise Rs 400 crore ($52.9 million) capital, via rights issue to stabilise its operations and cash flow, due to the disruptions caused by the Covid-19 pandemic.
Marcella Wartenbergh is to become the new chief executive of Pepe Jeans Group, taking over from group founder and shareholder Carlos Ortega. She joins from PVH Corp, which owns Tommy Hilfiger and Calvin Klein.
PVH has launched an integrated e-commerce platform for its heritage brands, allowing cross-brand shopping between Izod, Van Heusen and StyleBureau, with purchases being grouped into a single shopping bag.
American fashion brand Aeropostale is betting big on the Indian market and focusing on the youth segment to drive sales in the coming years. The company is planning to open 15 stores during the current financial year.