PVH Corp. is selling its ‘Heritage Brands’ like IZOD, Van Heusen, ARROW and Geoffrey Beene.
The buyer is Authentic Brands Group, the purchase price appr. US$200 Mill.
PVH will focus on the bigger Calvin Klein and Tommy Hilfiger, on international business, and on e-commerce.
It will remain as licensee for shirts, ties, and keep Warner’s underwear business.
ABG will buy some licensees along with the brands.