Record Profits For Hilfiger

Tommy Hilfiger has released its figures for the financial year to March 31, 2008 and things are looking mighty good for the fashion retailer and lifestyle brand.

Hilfiger boasted record profits, as its group sales increased 14.4 per cent to 1.34 billion Euros. Its European division played a very big role in the surge, reporting sales that skyrocketed 22.8 percent to 707 million euros.

"We are extremely proud of these record financials. For many years now our international business outside of the US has delivered consistent growth at a premium position," said Tommy Hilfiger chie executive Fred Gehring. "We are especially pleased as well that the initiatives we have undertaken in the past two years to elevate and reposition the brand in the US have delivered such strong results."

Several initiatives were undertaken by Tommy Hilfiger in the same period. It has opened 140 standalone stores, bringing its total of global stores to 796; It also entered into a partnership with US department store Macy's that will commence in autumn, and acquired former licensees Tommy Hilfiger Japan and Tommy Hilfiger Europe Footwear as well.

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