Tommy Hilfiger Net Worth 2020, Biography, Education, and Career.
Tommy Hilfiger Net Worth 2020 – Founder of one of the world’s most premium luxury lifestyle brands, Thomas Jacob Hilfiger is the creative genius behind the billion-dollar enterprise, the ‘Tommy Hilfiger Corporation’.
His label has enjoyed tremendous success for over 25 years, all over the world.
Tommy was born on March 24, 1951, as Thomas Jacob Hilfiger in Elmira, New York, to jeweler Richard and nurse Virginia. He was the second born of nine children and was raised a Catholic.
He was educated at the Elmira Free Academy in New York. He later went on to attend the GST BOCES Bush Campus.
Even as a teenager he exhibited creative his talent – he would buy jeans, remodel them and sell them.
In 1969, when he was around 18 years old, he opened a store named, ‘People’s Place’, where he sold hippie supplies like perfumed incense, records and bell-bottoms.
His hippie supply store, ‘People’s Place’ soon became a success and he went on to design for other boutiques. In 1979, he began to pursue a full-fledged career in the field of fashion designing.
With the help of a businessman named, Mohan Murjani, in 1985, he launched his first signature collection. The collection included chinos, button-down shirts, and other classic fabrics.
In 1985, he launched a successful marketing campaign, hiring the legendary ad man, George Lois. They came out with a billboard in the center of New York’s Times Square.
In the 1990s, the hip-hop world chose to sport his designs and music personalities like Lenny Kravitz and Aaliyah were part of his advertising campaigns. By this time his designs topped the range of $25 million.
In 1992, he designed clothes for musician Snoop Doggy Dogg, when the latter made his appearance on the TV show, ‘Saturday Night Live’. Soon he became a big name and other artists started wearing his designs.
In 1999, he was named as one of the main sponsors of singer Britney Spears and her debut concert tour,’Baby One More Time Tour’, in support of her debut album of the same name.
Around the year 2000, his professional success began to dwindle down and he started suffering from financial troubles. His designs started losing their popularity with the hip-hop artists and sales went down by 75 percent.
In 2005, he was the host and the sponsor of the show titled, ‘The Cut’. This gave chance to the winning contestant to work in close collaboration with him and together come out with a designer collection.
As a consequence of declining sales, in 2006, he sold his company for $1.6 billion, or $16.80 a share, to the private investment company, Apax Partners. The following year, he signed a deal with the departmental chain, ‘Macy’s.
In 2009, the company tried its luck at online marketing with the launch of its website, www.hilfigerdenim.com. This website gives users the privilege to view the latest cutting-edge Hilfiger Denim collections.
In March 2010, Tommy Hilfiger Corporation was purchased by the American clothing business, Phillips-Van Heusen for $3 billion.
Height and Weight
As of 2020, Tommy Hilfiger is an American fashion designer who has a net worth of $450 million.