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Calvin Klein

Fashion

Phillips-Van Heusen (PVH), owner of the Calvin Klein label, has agreed to buy fashion label Tommy Hilfiger from London-based Apax Partners in a $3 billion cash-and-stock deal to boost its presence in Europe and Asia.

The deal will make Phillips-Van Heusen one of the largest suppliers of menswear to U.S. department stores, and will keep Hilfiger founder Tommy Hilfiger in his role as principal designer for the popular clothing line.

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Lana Galea View Comments