Designer brand reportedly wants to sell company
visualstore.com
Tommy Hilfiger Corp. (Kowloon, Hong Kong) has hired J.P. Morgan Chase & Co. to conduct an auction for the business.
The once-hot fashion brand, which has been struggling in recent years, had considered a sale earlier this year but could not proceed because the company had been the target of a tax investigation. That case was settled last week.
Despite its recent sales and business problems, the company is expected to generate interest because of its well-known brand. Speculation has already mentioned Liz Claiborne Inc. and Jones Apparel Group, as well as private equity firms, which have recently shown great interest in retail brands.
The company’s clothing, which once thrived as an urban brand, has lost much of its status in that market and it has been trying to remake itself with a more upscale line.
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