Speedo is owned by a publicly traded company called Warnaco. They just got bought for $2.9-billion by the PVH Corporation. Warnaco owns such companies as Van Huesen, IZOD, Tommy Hilfiger, Calvin Klein licensing, Speedo, Chaps, Olga...
The key news for swimmers is that PVH did not buy Warnaco for swimmers but that the sole object of the purchase was for the Calvin Klein licenses.
What will PVH do with the remaining brands - will it be business as usual or will some be spun off to help pay for the purchase?
From Deal Book at the New York Times:
The fashion company PVH Corporation agreed on Wednesday to acquire the Warnaco Group in a $2.9 billion deal, bringing various Calvin Klein brands under one corporate umbrella.
Under the terms of the deal, PVH, whose brands include Calvin Klein and Tommy Hilfiger, said it was offering $51.75 in cash and 0.18 of a share in PVH for each share in Warnaco, which is based in New York and controls the Calvin Klein jeans and underwear licenses.
[Link]
2 comments:
I think Warnaco only held the US license; in the rest of the world a separate company is in charge.
Really? That's insightful! Imagine paying all that money for just the US License?
I am curious if it will be business as usual for Speedo or if the PVH management style will interfere?
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