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Tommy Hilfiger mulls £2bn European float

Tommy Hilfiger is mulling a float on the European stock markets which could the value the US brand at up to €3 billion (£2bn).

Private equity firm Apax, which owns around 80% of the business, is understood to have appointed investment banks Credit Suisse and Citigroup to investigate the float option.

Apax bought Tommy Hilfiger for US$1.6bn (£800m) in 2005 after sales at the brand dropped off dramatically.

Since then, the Timmy Hilfiger has attempted to become more European-focused and has moved upmarket under chief executive Fred Gehring. European sales are estimated to have doubled to £400m since 2003.

Tommy Hilfiger launched a collection from international footballer Thierry Henry, and opened a London flagship on Regent Street earlier this year.

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