WASHINGTON (dpa-AFX) - Fashion company PVH Corp. (PVH), which owns Calvin
Klein and TOMMY HILFIGER brands, announced Monday its agreement to sell Warners,
Olga and True & Co. businesses to Basic Resources, a private, family-owned
manufacturer of apparel for consumer brands.

The all-cash sale price is $160 million, subject to adjustment. The
consideration also includes an earnout based on the net sales on a portion of
the acquired businesses for calendar 2024, with a maximum value of $10 million.

The company expects the transaction to close at the end of November, subject to
standard closing conditions.

PVH said it intends to use the net proceeds from the sale to repurchase shares
of its common stock.

Stefan Larsson, Chief Executive Officer of PVH, said, 'This transaction is an
important next step as we continue to accelerate our focus under the PVH+ Plan
to build our core brands, Calvin Klein and TOMMY HILFIGER, into the most
desirable lifestyle brands in the world.'

In the sale, Solomon Partners, L.P. is serving as exclusive financial advisor
and Lowenstein Sandler is legal counsel to PVH.



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