21 Jun. 2010
HILFIGER TO BRING EUROPEAN HANDBAG, LEATHER GOODS LICENSE IN HOUSETommy Hilfiger Group said on Friday it will bring its European handbag and small leather goods business in house, effective Spring 2011. The division will be managed by Christopher Koerber, SVP of Footwear and Accessories, who is expected to report to Daniel Grieder, CEO of Tommy Hilfiger Europe B.V. The company also announced a new agreement with Tichebox Srl, which currently operates its handbag and small leather goods program, for the design, production, sales and marketing of luggage under the Tommy Hilfiger brand. "The integration of this business within the Tommy Hilfiger Group is intended to optimize both product development, as well as sales," said Fred Gehring, Chief Executive Officer of the Tommy Hilfiger Group. "We see tremendous growth potential for these categories and this step will provide us with greater control and improved brand alignment.” Wholesale revenues for the categories are said to have surpassed 16.5 million euros, or $20.3 million, in 2009.
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