The Tommy Hilfiger Group has entered into an agreement to assume direct control of its wholesale and retail distribution in China from its licensee Dickson Concepts (International) Ltd, beginning 1 March 2011.
Dickson Concepts will continue to operate as the company’s licensee in China through 28 February 2011 and will remain as the licensee for other territories in the Southeast Asian region, comprising Hong Kong, Macau, Taiwan, Singapore and Malaysia, under an extended agreement that continues through to 31 March 2019. Terms of the transaction have not been disclosed.
"This acquisition is in line with our strategy to consolidate brand management and approach the market in the most coordinated manner
possible," said Fred Gehring, CEO of the Tommy Hilfiger Group, on 31 March. "There is tremendous potential in China to cultivate the Tommy Hilfiger brand. Over the years, Dickson Concepts (International) Ltd has firmly established Tommy Hilfiger as a premium lifestyle brand in the region. By assuming direct control of the brand operations in China, we will now be in a better position to support the development and expansion of the business in this important growth market."
Tommy Hilfiger products, including men’s, women’s, denim and childrenswear, are currently sold through 103 points of sale in China.
(Source: Tommy Hilfiger Europe BV)