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History of Tommy Hilfiger
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Transcript
The History of
Tommy Hilfiger
References
Humble Beginnings
- At 18 years old, Tommy Hilfiger opened his own clothing store, People's Place, as an ode to the hippie aesthetic with $150; soon he had a chain of 6 popular stores
- The economic downturn of the late 70s hit, and Hilfiger filed for bankruptcy
- At 25, self-taught Hilfiger moved to New York to purse fashion design
http://www.biography.com/people/tommy-hilfiger-594098
http://www.businessweek.com/articles/2014-04-18/tommy-hilfger-q-and-a-the-rise-and-fall-and-rise-of-a-man-and-his-brand
http://en.vogue.fr/thevoguelist/tommy-hilfiger-2/321
http://www.forbes.com/sites/clareoconnor/2014/12/10/turnaround-tommy-how-hilfigers-once-dead-brand-had-its-biggest-year-ever/
http://www.referenceforbusiness.com/history2/1/Tommy-Hilfiger-Corporation.html
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Tommy Hilfiger Today
Establishing Tommy Hilfiger
Becoming a Lifestyle Brand
- 1995: Tommy Hilfiger expanded to become a lifestyle brand, launching womens- and childrens-wear as well as accessories, shoes, and fragrances
- 1995: A decade after establishing the brand, Tommy Hilfiger was recognized as Menswear Designer of the Year by the Council of Fashion Designers of America
- 2010: Tommy Hilfiger was acquired by PVH Corporation for $3 billion, with the namesake designer maintaining a Chief Creative Officer role
- TODAY: Tommy Hilfiger is one of PVH Corporation's largest divisions, accounting for 42% of its 2013 revenue
- Tommy Hilfiger
- Hilfiger Denim
- 1985: Hilfiger teamed up with Mohan Murjani of Gloria Vanderbilt Jeans to create an eponymous men's sportswear line, where he recreated preppy on the cusp of the casualwear revolution
- A bold marketing campaign created by Greg Lois proclaimed Tommy Hilfiger as the next big American menswear designer, making him an overnight sensation
Re-inventing Tommy Hilfiger
- Early 2000s: After a decade of strong growth, the brand fell upon hard times due to oversaturation and falling sales
- 2006: Tommy Hilfiger was sold to Apax Partners for $1.6 billion to take the company private
- 2007: A deal was negotiated with retail powerhouse Macy's to exclusively sell Tommy Hilfiger
Becoming a Household Name
- 1992: Became the first fashion company to go public in the NYSE with an IPO of $15; sales for the year grew to $107 million
- 1994: Tommy Hilfiger became a pop-culture trendsetter as sales continued to grow to $127 million; the brand became ubiquitous, as everyone from CEOs to pop and hip hop artists wore the brand
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