Disruption is wreaking havoc in retail where designer Tommy Hilfiger made his fortune, yet he's fully onboard with the concept and fallout, he said on Wedmesday, Sept. 27 during an interview at TheStreet.

Hilfiger discussed the state of retail, the lifespan of malls, the latest fashion trends and his perfect day.

On whether retail can be revived, he said: "I think some can come back. The product has to be right. The ambiance and the experience has to be right, obviously. And they need approval by the millennials and the Generation Z coming up. So the youth has to embrace the brands, the retailers, the restaurants, and even automobiles."