PVH Corp. Announces Minority Investment in Karl Lagerfeld

  PVH Corp. Announces Minority Investment in Karl Lagerfeld

Business Wire

NEW YORK -- April 8, 2014

PVH Corp. (NYSE:PVH) announced today that it has become a minority shareholder
in the parent company of the Karl Lagerfeld brand. Terms of the deal were not
disclosed.

This investment will enable PVH to benefit from the growth of this unique
brand and includes the right of first offer to license the brand for North
America, which has primarily been focused in Europe and Asia.

Karl Lagerfeld was part of the Tommy Hilfiger Group until PVH acquired the
Group in 2010, at which time it was spun off to the Group’s former
shareholders. Other investors in Karl Lagerfeld include Apax Funds, the Chou
Group, Mr. Tommy Hilfiger and Fred Gehring, CEO of Tommy Hilfiger.

Pier Paolo Righi, President of Karl Lagerfeld B.V., said: “We are excited to
have PVH as a shareholder. We have ambitious plans for the business and have
embarked on an aggressive growth strategy, opening a new store every three
weeks over the last six months. We believe PVH’s strong track record in
supporting the growth opportunity of global designer lifestyle brands will be
a big asset.”

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, Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s
and Olga, and its licensed brands, including Speedo, Geoffrey Beene, Kenneth
Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps,
Donald J. Trump Signature Collection, Joseph Abboud, DKNY, Ike Behar and John
Varvatos.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: Forward-looking statements and information included in this press
release, including, without limitation, statements relating to the Company’s
future plans, strategies, objectives, expectations and intentions, and the
benefits, results, and effects of its investment in Kingdom Holding 1 B.V.,
the parent company of Karl Lagerfeld B.V. (the “Karl Lagerfeld Business”), 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) the
Company’s plans, strategies, objectives, expectations and intentions are
subject to change at any time at the discretion of the Company; (ii) the
Company may be considered to be highly leveraged, and will have to use a
significant portion of its cash flows to service such indebtedness, as a
result of which the Company might not have sufficient funds to operate its
businesses in the manner it intends or has operated in the past, or make
further investments in Kingdom Holding 1 B.V. that may be necessary to
maintain its interest as the business is developed; (iii) the Karl Lagerfeld
Business is in the early stages of development, and the Company has limited
rights with respect to influencing its development as such, there can be no
assurance of the success of the Karl Lagerfeld Business or that the Company
will receive a return on its investment; the Company may even lose its
investment in its entirety; and (iv) other risks and uncertainties indicated
from time to time in the Company’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:

PVH Corp.
Dana Perlman, 212-381-3502
Treasurer and Senior Vice President, Business Development and Investor
Relations
investorrelations@pvh.com
 
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