In a joint statement, Apax and Tommy Hilfiger management said: “Considering recent volatile market conditions, management and shareholders decided to postpone an IPO process until such time that market conditions have stabilised in the interest of the company. For now it is business as usual.”
Apax bought the clothing brand for US$1.6bn in 2005. Other fashion investments made by the UK firm include CBR, a German ladies’ fashion businesses bought in 2004, and New Look, a UK fashion chain also acquired in 2004.