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NEW YORK, N.Y. - PVH Corp., the company behind the Calvin Klein and Tommy Hilfiger brands, has become a minority shareholder in fashion designer Karl Lagerfeld's namesake company.
The financial terms of the deal were not disclosed.
PVH said Tuesday that the investment in Karl Lagerfeld B.V. will allow it to benefit from growth of the designer's brand. The deal includes giving PVH first dibs on licensing the brand for North America.
Lagerfeld has primarily been focused in Europe and Asia. The company is trying to expand rapidly and says it has been opening a new store every three weeks over the last six months.
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