FRANKFURT (Reuters) – Smart-casual fashion house Tommy Hilfiger is focusing on expansion after turning around its U.S. business and currently has no plans for a stock market listing, its chief executive said.
“An IPO is currently no longer up for discussion,” Fred Gehring told German business daily Handelsblatt in comments published on Tuesday.
The brand, which spans mens-, womens- and childrenswear as well as watches and accessories, was bought by private equity firm Apax Partners APAX.UL in 2006 for $1.6 billion.
“The management and Apax want to further develop the company over the usual time horizon for financial investors of three to five years,” Gehring said.
He added that the company was also considering buying other fashion brands.
“The turnaround in our U.S. business has been achieved. After the restructuring the signs point very clearly again to expansion,” Gehring said.
Gehring had told Reuters in April that Hilfiger would look again at a flotation at the end of 2009.
(Reporting by Georgina Prodhan; editing by Rory Channing)