Tommy Hilfiger Net Worth
The true essence of Fashion’s game has gripped the world, by an endless bombarding of new products lines. Fashion is a big business all over the world; people are insane to dress-up and wear accessories. In this crowded marketplace, Tommy Hilfiger has emerged as the most popular fashion apparel brand in the United States and the rest of the world. The company was launched back in 1992, and now the products of Tommy Hilfiger are paving its way into closet of high-beat millennials. In a short time, it got the success that is rarely witnessed in the fashion industry. We will take an in-depth look at Tommy Hilfiger Net Worth.
Image Credit: The Squander
Tommy Hilfiger – Man behind the Fashion Brand
The career of the world’s most versatile fashion designer started back in 1968. Back then, he started a brand shop in New York named People’s Place by only investing $150. He saved the money by working at a Petrol Station for his startup business. The store soon turned into a chain, but later on, it was shut down in 1977 due to bankruptcy. Then he moved to work with some other brands like Jordache Jeans. In 1985, he launched his own signature collection, which was based on new versions of Chinos, baggy pants, button-down shirts, and classic preppy style. Later on, it became the theme of the designs of Tommy Hilfiger.
The clothing line turned the career of the designer, which was accompanied by a high-profile marketing campaign. Many large billboards were displayed throughout New York City, and the brand came into existence. Currently Tommy Hilfiger Net Worth is $450 Million to $500 Million.
Popularity of this Lifestyle Brand
The company officially launched its brand outlet in 1992. It also started to create women’s clothing line. The first store of the brand was opened in Beverly Hills. And after that, a new store was launched in London back in 1998. Tommy Hilfiger also launched its bed and bath line in 1998.
In the decade of 1990s, the company worked along with the Music Industry to capture the attention of youth and was the official sponsor of many musical bands and concerts to showcase its product line. The marketing campaign met with high success throughout the United States. The brand became a symbol of the hip-hop culture in America as well as the popular among the American preppy influenced youth. The brand becomes more prevalent as famous American rapper wore a sweatshirt of Hilfiger; the whole stock of sweatshirt was sold out the very next day from the stores in New York. The brand’s theme is under the influence of American music subculture. The company sponsored many American music stars like Britney Spears. The collaboration of the company with the music industry has considerably impacted Tommy Hilfiger Net Worth.
Tommy Hilfiger Net Worth & Growth in Europe
Women apparel by Tommy Hilfiger was introduced back in 2001. In the same year, the sales of the company boosted and touched a record high of $1.87 billion. During those years the sales in Europe rose to $1.15 billion. The higher-up then started to expand the brand’s reach by looking back at their core theme of “classic American cool.” And the company began to design clothing by keeping in mind the style statement of Europeans. They started to collaborate and build a partnership with European boutiques and clothing outlets. Which resulted in expanding their outreach throughout Europe.
Acquisition by APAX Partner
Due to the rise of Tommy Hilfiger net worth, APAX Partners were interested in investing in the company and acquired it for $1.6 billion. After that, the company’s control was transferred to the management of APAX Partner, but Tommy himself remained the principal designer of the brand. They switched their focus from the United States and started to build the baseline of the company in Europe. But in 2010, by focusing on sports line clothing, the company sales also boomed in the United States.
Acquisition by PVH
In 2010 the company was sold to Phillips-Van Heusen Corporation popularly known as PVH. It acquired the company for $3 billion. In 2013 Tommy Hilfiger global sales increased to $6.4 billion, and by 2014 the sales boomed to reach $6.7 billion. But still, Tommy remained the designer and looked after the creative process of launching new products and the clothing line.
Tommy Hilfiger Net Worth
Since 1992, the company has outperformed in the clothing line. And the products are popular all across the world. Especially in New York and London. By continually adopting new creative strategies, they have acquired an essential place in the market. Currently Tommy Hilfiger’s Net Worth as of 2020 is approximately $10 Billion.
