Headlines

Bringing Underwear In-House

Tommy Hilfiger to end licensing agreement with Jockey

Published

22 years ago

August 1, 2002

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Preppy apparel retailer Tommy Hilfiger Corp. (New York) announced that it will begin operating its men's underwear business as an in-house unit after its licensing agreement with Jockey International Inc. (Kenosha, Wis.) expires.

Under the terms of the agreement, which has been in place since 1993, the license with Jockey will end on May 31, 2003.

Hilfiger said the change is expected to have a “modest positive impact” on its revenue and earnings for the fiscal year ending March 31, 2004, as the company receives the direct contribution of underwear sales and profits in place of royalty income and advertising contributions under the license.

Michael Spillane, president of Tommy Hilfiger's children's division, will oversee the in-house business. He headed the Tommy Hilfiger men's underwear business at Jockey before joining Tommy Hilfiger last year.

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