PVH Corp. Becomes Minority Shareholder In Karl Lagerfeld - Quick Facts

(RTTNews) - PVH Corp. (PVH) announced that it has become a minority shareholder in the parent company of the Karl Lagerfeld brand. Terms of the deal were not disclosed.

The company said this investment will enable PVH to benefit from the growth of this unique brand and includes the right of first offer to license the brand for North America, which has primarily been focused in Europe and Asia.

PVH said that Karl Lagerfeld was part of the Tommy Hilfiger Group until PVH acquired the Group in 2010, at which time it was spun off to the Group's former shareholders. Other investors in Karl Lagerfeld include Apax Funds, the Chou Group, Tommy Hilfiger and Fred Gehring, CEO of Tommy Hilfiger.