Tommy Hilfiger and the Bay announce Canadian distribution partnership
90 The Bay stores to offer Tommy Hilfiger across Canada in 2011
TORONTO and NEW YORK, May 27, 2011 – The Tommy Hilfiger Group, which is wholly owned by Phillips-Van Heusen Corporation (NYSE: PVH), and The Bay, one of Canada’s leading fashion retailers, are pleased to announce an agreement under which 90 The Bay stores across Canada will offer Tommy Hilfiger menswear by November 2011. The Company will invest in the development of fixtured shop-in-shop environments in key doors to deliver the best brand and product experience for The Bay shoppers.
“We have been watching the Canadian marketplace closely over the past few years, and its robust economy and increasingly discerning fashion consumers make this the perfect time to re-introduce our brand at The Bay stores,” said Gary Sheinbaum, Chief Executive Officer of Tommy Hilfiger North America. “In the United States, our strategic alliance with Macy’s has served our business very well over the past three years, and we’re confident that this arrangement with one of Canada’s leading department stores will have a similar impact.”
“We’re very excited to expand our presence in Canada with this important launch,” said Tommy Hilfiger. “The Bay is an excellent partner, and this opportunity allows us to reach a broader base of Canadian consumers who appreciate the brand’s classic American cool style.”
“The Bay is thrilled to be the exclusive launch department store partner for Tommy Hilfiger in Canada,” said Bonnie Brooks, President and CEO, The Bay. “With one of the most recognized lifestyle brands available in 90 stores, The Bay will provide Canadian customers the full Tommy Hilfiger shopping experience in a strong branded environment.”
66 locations – including The Bay’s flagship stores in downtown Toronto (176 Yonge Street at Queen West), downtown Montreal (585 rue Ste-Catherine Ouest) and Vancouver (674 Granville Street) – will open in August 2011, followed by 24 more throughout the fall. The average Tommy Hilfiger-branded location will occupy approximately 500 square feet, but will be a full 750 square feet in the Toronto, Montreal and Vancouver flagship stores.
About The Tommy Hilfiger Group
With a premium lifestyle brand portfolio that includes Tommy Hilfiger and Hilfiger Denim, the Tommy Hilfiger Group is one of the world’s most recognized designer apparel groups. Its focus is designing and marketing high-quality menswear, womenswear, children’s apparel and denim collections. Through select licensees, the Group offers complementary lifestyle products such as accessories, fragrances and home furnishings. Merchandise under the Tommy Hilfiger brands is available to consumers worldwide through an extensive network of Tommy Hilfiger retail stores, leading specialty and department stores and other select retailers and retail channels. For additional information about the Tommy Hilfiger Group, please visit www.tommy.com.
About Phillips-Van Heusen Corporation
Phillips-Van Heusen Corporation, one of the world’s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the world’s largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY and Timberland. Visit www.pvh.com.
About The Bay
Hudson’s Bay Company was incorporated in 1670 by a British royal charter under King Charles II. With an unrivalled 341-year history in Canada, Hudson’s Bay Company is renowned for its historical role in the development of the nation. Today, The Bay is Canada’s leading department store and has established a reputation for quality, service, and more than ever, for style. A world-class department store, The Bay offers well edited assortments of exclusive and popular fashion, beauty, home and accessory designers and brands. The stores are continually evolving to provide customers with new and exclusive merchandise, as well as customized services to set The Bay apart from any other retailer in Canada. The Bay operates 90 stores in 8 provinces across Canada as well as www.thebay.com, the company’s online store.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements made in this document, including, without limitation, statements relating to the Company’s future plans, strategies, objectives, expectations and intentions, including, without limitation, statements relating to the Company’s acquisition of Tommy Hilfiger B.V. and certain affiliated companies (collectively, “Tommy Hilfiger”), are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not be anticipated, including, without limitation, the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) in connection with the acquisition of Tommy Hilfiger, the Company has borrowed significant amounts and will have to use a significant portion of its cash flows to service such indebtedness, as a result of which the Company might not have sufficient funds to operate its businesses in the manner it intends or has operated in the past; (iii) acquisitions and issues arising with acquisitions and proposed transactions, including without limitation, the ability to integrate an acquired entity, such as Tommy Hilfiger, into the Company with no substantial adverse affect on the acquired entity’s or the Company’s existing operations, employee relationships, vendor relationships, customer relationships or financial performance; and (iv) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
The Company does not undertake any obligation to update publicly any forward-looking statement, whether as a result of the receipt of new information, future events or otherwise.
For further information:
SVP of Communications
Tommy Hilfiger USA
212 548 1952
Sr. Public Relations Manager
The Hudson’s Bay Company
416 861 4807