Tommy Hilfiger to Acquire Majority Control of Tommy Hilfiger Japan

    AMSTERDAM, Jan. 8 /CNW/ - The Tommy Hilfiger Group today announced it has
entered into an agreement that, through a series of steps, will result in the
Group acquiring majority control of Tommy Hilfiger Japan Corporation ("THJC"),
currently owned by Itochu Corporation. Terms of the transaction have not been
    Established in 1996, THJC is the exclusive licensee of Tommy
Hilfiger-branded products in Japan, which THJC brings to market through its
network of 105 freestanding retail stores and 60 department store concessions,
as of November 2007. In calendar 2006, THJC had net sales of Yen15.1 billion
(EUR103 million; US$129 million). For the three years ended 2006, THJC's
revenues increased at a compound annual growth rate of over 20%.
    "We believe that there is potential for substantial continued growth in
Japan for Tommy Hilfiger. Under Itochu's leadership, THJC has done an
outstanding job in positioning the brand and building a very meaningful
business. The integration of THJC will help to build upon the success that has
already been achieved. This acquisition is in line with our strategy to pursue
opportunistic buybacks and acquisitions of licensees, consolidating brand
management and enhancing our international presence by approaching various
markets in an increasingly globally coordinated manner while leaving ample
room for local interpretation and adaptation. We welcome the THJC team into
the Tommy Hilfiger Group and we are especially pleased that the existing
management team will continue to lead the business into the future." said Fred
Gehring, Chief Executive Officer of Tommy Hilfiger Group.

    About Tommy Hilfiger Group

    Tommy Hilfiger is a leading premium lifestyle brand and one of the
largest designer apparel brands globally. Tommy Hilfiger Group, through its
subsidiaries, designs, sources and markets men's and women's casual wear,
sportswear, jeans, children's wear and footwear. The Group's products can be
found in its network of dedicated retail stores in Europe, the United States
and Canada, as well as in leading specialty and department stores throughout
Europe and North America. Through over 40 licensees, Tommy Hilfiger-branded
products, including a broad array of related apparel, accessories, fragrance
and home furnishings, are distributed worldwide, including in Mexico, Central
and South America, Japan, Australia India, China and elsewhere throughout

For further information:

For further information: Tommy Hilfiger N.V., Avery Baker,
+31-20-589-5716; Abdel El Hamri, +31-20-589-5701; Brunswick Group LLP,
+44(0)20-7404-5959; Tom Buchanan, Paul Scott, James Olley, Michael Fuchs

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