PVH, the parent company of Calvin Klein and Tommy Hilfiger, has acquired a minority stake in Karl Lagerfeld’s company.
The deal - the terms of which were not disclosed - will give PVH the right to licence Karl Lagerfeld in North America.
Pier Paolo Righi, president of Karl Lagerfeld, said: “We have ambitious plans for the business and have embarked on an aggressive growth strategy, opening a new store every three weeks over the last six months. We believe PVH’s strong track record in supporting the growth opportunity of global designer lifestyle brands will be a big asset.”
Karl Lagerfeld was part of the Tommy Hilfiger Group until PVH acquired the brand stable in 2010, when it was spun off to shareholders.
Apax Funds, the Chou Group, Tommy Hilfiger and Fred Gehring, chief executive of Tommy Hilfiger continue to own a stake in the luxury label.