How much is Tommy Hilfiger worth? $400 Million
How did Tommy Hilfiger earn his money and wealth?
Tommy Hilfiger, real name Thomas Jacob Hilfiger, was born on 24 March, 1951 in New York to Richard and Virginia. Tommy Hilfiger is known for establishing the fashion company “Tommy Hilfiger” that was founded in the year 1985. Tommy Hilfiger still remains to be the company’s principal designer. The company has its headquarters located in New York City, New York, United States. The American multinational company designs as well as manufactures apparels for women, men and children and other range of licensed products as well as accessories, fragrances, footwear and home furnishings.
Tommy Hilfiger began his fashion career when he co-founded a clothing store, “People’s Place” in New York in the year 1968. He later thought of expanding the company into a chain of ten stores. Although “People’s Place” was a success, in the beginning, it later filed for bankruptcy in the year 1977. In the year 1979, Tommy Hilfiger moved to New York City in order pursue a career in the fashion industry as a fashion designer. He later met Mohan Murjani, an Indian textile magnate in the 1980s who was hoping to launch a new line of men’s clothing.
With the help of Mujani, Hilfiger created his first signature collection in the year 1985 that consisted of modern versions of chinos, button-down shirts, and other classic styles. Soon, Tommy Hilfiger’s clothing line became popular and successful. In the year 1989, Tommy Hilfiger left Murjani International and formed his very own company “Tommy Hilfiger.”
Tommy Hilfiger went public in the year 1992. In 1996, Tommy Hilfiger Corporation began distributing women’s clothing after licensing Pep Jeans USA in the year 1995. By the end of 1997, Tommy Hilfiger opened his first store in Beverly Hills and then opened another store in London in the year 1998. The company went on to launch its bed and bath line as well in 1998.
In the year 2001, women’s intimate apparel was introduced. In the year 2003, Hilfiger and Tommy Hilfiger executive Fred Gehring both decided to invest further in the brand’s overseas audience by bringing in the brand’s original style, “classic American cool” back again and designing clothing for people outside New York City. In the year 2006, Hilfiger sold Tommy Hilfiger Inc. to Apax Partners, a private investment company for $1.6 billion. Gehring was appointed as Hilfiger’s CEO but later was made the executive chairman of Tommy Hilfiger Group and the vice chairman of PVH. In January 2015, Tommy Hilfiger opened a new digital sales showroom at the company’s New York City headquarters.
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