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Tommy Hilfiger Group and Inbrands S.A. Announce Joint Venture to Operate the Tommy Hilfiger Business in Brazil



  Tommy Hilfiger Group and Inbrands S.A. Announce Joint Venture to Operate the
  Tommy Hilfiger Business in Brazil

Business Wire

SÃO PAULO & NEW YORK -- November 13, 2012

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.

About The American Sportswear Group

The American Sportswear Group is the distributor of Tommy Hilfiger and
Hilfiger Denim products for Latin America and the Caribbean. Since 1986, the
company has successfully taken the diversity of products under the Tommy
Hilfiger brand to all the countries in the region. As a leader in the
industry, The American Sportswear Group represents a range of products
including: menswear, womenswear, childrenswear and licensing products that
include footwear, accessories and fragrances.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: Forward-looking statements made in this release, including, without
limitation, statements relating to the future plans, strategies, objectives,
expectations and intentions of PVH Corp. and its subsidiaries (collectively,
“PVH”) are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements are inherently subject to risks and uncertainties,
many of which cannot be predicted with accuracy, and some of which might not
be anticipated, including, without limitation, the following: (i) PVH’s plans,
strategies, objectives, expectations and intentions are subject to change at
any time at its discretion; (ii) PVH uses a significant portion of its cash
flows to service its indebtedness, as a result of which PVH might not have
sufficient funds to operate its businesses in the manner it intends or has
operated in the past; (iii) acquisitions and issues arising with acquisitions
and proposed transactions, including without limitation, the ability to
integrate an acquired entity, into PVH with no substantial adverse effect on
the acquired entity’s or PVH’s existing operations, employee relationships,
vendor relationships, customer relationships or financial performance; and
(iv) other risks and uncertainties indicated from time to time in PVH’s
filings with the Securities and Exchange Commission.

The Company does not undertake any obligation to update publicly any
forward-looking statement, whether as a result of the receipt of new
information, future events or otherwise.

Contact:

Investors:
Dana Perlman, 212-381-3502
Treasurer, SVP – Business Development and Investor Relations
or
Media:
Zach Eichman, 212-548-1978
zacheichman@tommy.com
or
Tiffin Jernstedt, 31 20 709 8076
Tiffin.jernstedt@tommy.com
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