PVH sold heritage brands

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.