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Tommy Hilfiger Group And Inbrands S.A. Announce Joint Venture To Operate The Tommy Hilfiger Business In Brazil

Inbrands S.A., a publicly held company with no shares registered for trade, and The Tommy Hilfiger Group, which is wholly owned by PVH Corp. (NYSE: PVH), announced today that they have formed a joint venture, Tommy Hilfiger do Brasil S.A., which will hold the rights to operate, manage and distribute certain Tommy Hilfiger branded products in Brazil. The partnership, which also includes American Sportswear S.A. (“ASSA”) as a minority partner, will begin its wholesale and retail operations on January 4, 2013. ASSA is the current distributor for the Tommy Hilfiger brand in Brazil, and will continue to operate its Tommy Hilfiger businesses in all other countries in South America, Central America and the Caribbean. Terms of the joint venture were not disclosed.

The move permits Tommy Hilfiger to be directly involved in the stewardship of the Tommy Hilfiger brand in Brazil, and reflects its strategy of acquiring direct interests in the Tommy Hilfiger businesses in key markets globally.

“This move allows us to directly support the development and expansion of our retail and wholesale business in Brazil,” said Fred Gehring, CEO of The Tommy Hilfiger Group. “Similar to our expansion strategy in other markets, this partnership will allow for accelerated growth in one of the world’s most exciting, high growth emerging markets.”

Inbrands markets and manages global lifestyle and premium fashion brands in Brazil, including a strong portfolio of iconic global and local Brazilian brands. Inbrands’ extensive multichannel distribution network includes brand-owned stores, franchises, multi-brand retail stores and e-commerce retailers. Their outstanding performance in the market confirms Inbrands’ position as a key player in the Brazilian retail landscape. Inbrands will handle the day-to-day operations of the joint venture.

“I look forward to growing and developing the Tommy Hilfiger business in Brazil with The Tommy Hilfiger Group and ASSA,” said Alexandre Brett, Brand Director of Inbrands S.A. “The Tommy Hilfiger brand is a market leader in the premium designer fashion sector, and there is a tremendous level of consumer interest for the brand. Brazil is one of the world’s most dynamic and growing retail landscapes, and we are very excited to begin this joint venture.”

“We have established a strong partnership with Inbrands and ASSA with this joint venture,” added Mr. Gehring. “Their expertise in the country’s apparel market is essential as we continue to firmly establish Tommy Hilfiger as a premium lifestyle brand in the region.”

About The Tommy Hilfiger Group

With a premium lifestyle brand portfolio that includes Tommy Hilfiger, Hilfiger Denim and Tommy Girl, 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 sportswear for men, women, juniors and children; footwear; athletic apparel (golf, swim and sailing); bodywear (underwear, robes and sleepwear); eyewear; sunwear; watches; handbags; men’s tailored clothing; men’s dress furnishings; socks; small leather goods; fragrances; home and bedding products; bathroom accessories; and luggage. The Hilfiger Denim product line consists of jeanswear and footwear for men, women and children; bags; accessories; eyewear and fragrance. 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.

About PVH Corp.

PVH Corp., 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, Ike Behar and John Varvatos.

About Inbrands S.A.

Inbrands is a leading platform for the managing and consolidation of lifestyle and premium fashion brands regarded as “iconic brands” in Brazil. Inbrands´ focus is the acquisition, development and professional and efficient management of high end renowned brands with potential for high returns, innovation and wide distribution and exposure in Brazil. Inbrands has a multichannel distribution network with nationwide presence and a flexible production model.

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