Karl Lagerfeld, creative director and head designer of the fashion house Chanel sold 30% of his own brand, Karl Lagerfeld to American clothing company, PVH Corp. Before the deal Karl’s label has focused on growth in Asia and Europe, now PVH will control the brand growth in North America by controlling the franchise.
Pier Paolo Righi, president of Karl Lagerfeld, told WWD: “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.”
MEFeater is excited for the powerful business move as well. Allowing PVH to invest in Karl Lagerfeld will allow the label to grow even bigger! PVH is no stranger to the fashion world. Aside from being the biggest shirt company in the world, it also has shares in Calvin Klein and Tommy Hilfiger and markets them worldwide. PVH also markets other high fashion brands such as DKNY, Kenneth Cole, MICHAEL Michael Kors, Sean John and John Varvatos.
Karl Lagerfeld opened its largest European store last month.
Tommy Hilfiger also invests in Karl Lagerfeld’s brand.
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