All you need to know about Tommy Hilfiger

Tommy Hilfiger is a $450 million net-worth American fashion designer. Tommy Hilfiger began his fashion business at the age of 18 when he bought pants and customized them for resale at a local boutique. He eventually created his own store, The People’s Place, and in 1985, with the Murjani Group’s help, he founded the Tommy Hilfiger Corporation.

If you’re wondering why Tommy isn’t a multi-billionaire, it’s because he sold a majority stake in his company to investors Silas Chou and Lawrence Stroll in 1989. Chou and Stroll are now each worth $2.7 billion. In 1995, the Council of Fashion Designers of America awarded Hilfiger Menswear Designer of the Year, and he has garnered several honors for his fashion design and charity activities throughout his career.

Who is Tommy Hilfiger?

Tommy Hilfiger was born Thomas Jacob Hilfiger in Elmira, New York on March 24, 1951. Virginia, his mother, was a nurse, and Richard, his father, was a watchmaker. Tommy grew up in a Catholic family with eight siblings, and he claims to be a direct descendant of poet Robert Burns.

During his childhood, Hilfiger was interested in fashion, sports, and the music industry, and he credits his parents for teaching him the value of compassion and hard work. Tommy graduated from Elmira Free Academy and temporarily attended the Greater Southern Tier BOCES Bush Campus.

How old is Tommy Hilfiger?

The renowned fashion designer is currently 72 years.

What is Tommy Hilfiger’s net worth?

Hilfiger is estimated to be worth $450 million.

What is Tommy Hilfiger’s career?

During the summer of 1969, Hilfiger worked in a Cape Cod clothes business, and two years later, with only $150 to his name, he launched People’s Place in downtown Elmira. He began by stocking the store with fashionable New York City apparel, but soon began designing his own.

Tommy launched a few more People’s Place shops until the chain went bankrupt in 1977, at which point he began taking management classes. He relocated to New York City and worked for a few fashion firms until launching his own company, Tommy Hill, in 1979. Jordache employed Tommy and Susie as designers but sacked them after a year.

Hilfiger created 20th Century Survival in 1981 and Click Point in 1982 before launching his own label with businessman Mohan Murjani’s assistance. The Tommy Hilfiger Corporation was founded in 1985 and debuted to the globe with an eye-catching marketing effort that included a massive billboard in Times Square.

Lawrence Stroll and Silas Chou, two financiers, purchased the bulk of the brand in 1989. Over the next 20 years, particularly in the 1990s, the duo helped Hilfiger become an international phenomenon.

Hilfiger established his own menswear collection in 1992, and the brand began producing women’s products in 1996. The company started its first store in Beverly Hills in 1997 and has since expanded to over 1,400 locations worldwide.
In the early 2000s, revenues surpassed $1.9 billion in bullion.

Apax Partners purchased the company in 2006 for $1.6 billion. Apax sold the company to Phillips-Van Heusen for $3 billion in 2010. Tommy has frequently merged his fashion industry with his passion for music, sponsoring tours such as Lenny Kravitz’s “Freedom” tour and Sheryl Crow’s “If It Makes You Happy” tour.

In 2005, he presented the CBS reality show “The Cut,” in which 16 designers fought for a design position with Hilfiger. He also starred in “Zoolander” (2001) and “Zoolander 2” (2016) as himself, and he has written seven books, including “All-American” (1997) and “American Dreamer: My Life in Fashion & Business” (2016).

In 1995, Hilfiger established The Tommy Hilfiger Corporate Foundation, which sponsored nonprofits dedicated to assisting at-risk youngsters in America. In 1998, he sponsored LIFEbeat – The Music Industry Fights AIDS, as well as Autism Speaks and the MLK, Jr. National Memorial Project Foundation. Tommy has been on the board of directors of The Fresh Air Fund, and its Camp Pioneer program was renamed “Camp Tommy” in 1999.

Since 2008, he has been designing limited-edition handbags for Breast Health International, with a portion of the revenues going to the charity’s Fund for Living program. Hilfiger is a Millennium Promise MDG Global Leader who has contributed millions of dollars to the organization’s aim of combating hunger and severe poverty. The philanthropic arm of The Tommy Hilfiger Corporate Foundation, renamed “Tommy Cares” in 2012, has sponsored Save the Children, War Child, the World Wildlife Fund, and other charity groups. Tommy joined the Autism Speaks board of directors in 2012, which led to his sponsorship of the 2014 Golden Door Film Festival.

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