AMSTERDAM, March 31 /CNW/ - The Tommy Hilfiger Group today announced it has entered into an agreement to assume direct control of its wholesale and retail distribution in China from its licensee Dickson Concepts (International) Limited, beginning March 01, 2011.
Dickson Concepts (International) Limited will continue to operate as the Company's licensee in China through February 28, 2011, and will remain as the licensee for other territories in the Southeast Asian region, comprising Hong Kong, Macau, Taiwan, Singapore and Malaysia, under an extended agreement that continues through to March 31, 2019. Terms of the transaction have not been disclosed.
"This acquisition is in line with our strategy to consolidate brand management and approach the market in the most coordinated manner possible," said Fred Gehring, Chief Executive Officer of the Tommy Hilfiger Group. "There is tremendous potential in China to cultivate the Tommy Hilfiger brand. Over the years, Dickson Concepts (International) Limited has firmly established Tommy Hilfiger as a premium lifestyle brand in the region. By assuming direct control of the brand operations in China, we will now be in a better position to support the development and expansion of the business in this important growth market."
Tommy Hilfiger products, including men's, women's, denim and childrenswear, are currently sold through 103 points of sale in China.
About The Tommy Hilfiger Group
With a premium lifestyle brand portfolio that includes Tommy Hilfiger and Hilfiger Denim, The Tommy Hilfiger Group of Companies is one of the world's most recognized designer apparel groups. The Group's focus is designing and marketing high-quality menswear, womenswear, children's apparel and denim collections. Through select licensees, the Group offers complementary lifestyle products such as accessories, fragrances and home furnishings. Tommy Hilfiger Group merchandise is available to consumers worldwide through an extensive network of dedicated retail stores, leading specialty and department stores and other carefully controlled distribution channels. For additional information about the Tommy Hilfiger Group of Companies, please visit http://www.tommy.com.
SOURCE TOMMY HILFIGER EUROPE B.V.
For further information: For further information: Abdel El Hamri, Director of European Communications, Tommy Hilfiger Europe B.V., Tel: +31-(0)20-589-5701, email@example.com; Avery Baker, EVP of Global Marketing and Communications, Tommy Hilfiger Europe B.V., Tel: +31-(0)20-589-9889, firstname.lastname@example.org