Facts of Tommy Hilfiger
|Full Name||Thomas Jacob Hilfiger|
|Birth Name||Thomas Jacob Hilfiger|
|Profession||Fashion Designer, Entrepreneur|
|Ethnicity||Mixed (Irish, German, Scottish, Dutch ancestry)|
|Birth City||Elmira, New York|
|Birth Country||United States|
|Father Name||Richard Hilfiger|
|Mother Name||Virginia Hilfiger|
|Relation With||Susie Hilfiger (m. 1980- div. 2000)|
|No Of Children||5|
|Awards||Geoffrey Beene Lifetime Achievement Award|
|Education||Elmira Free Academy High School, GST BOCES Bush Campus|
|Date of Birth||March 24,1951|
|Married Date||December 12,2008|
Tommy Hilfiger, an American designer, is the founder & former owner of Tommy Hilfiger Corporation; he founded the clothing company in 1985 & sold it in 2006 to Apax Partners.
Meanwhile, Tommy Hilfiger Inc. is owned by PVH Corp., where Tommy serves as its principal designer & oversees the creative processes.
Turned professional since 1969, the New York-born designer witnessed a hefty money-showers from his inclining success- from work in a clothing store to entrepreneurship in People's Place & then in Tommy Hilfiger Corporation.
What Is Tommy Hilfiger's Net Worth In 2020?
According to Celebrity Net Worth, the American designer Hilfiger has a net worth of $400 million as of March 2020.
Even after the sales of his company, Tommy still serves as its principal designer; it surely pockets him a hefty sum of money.
On average, a fashion designer in Tommy Hilfiger Inc. earns an annual salary of $76,126.
Gained Multi-Million Sum Through "Tommy Hilfiger Inc."
Tommy's career success came after he opened a store of his own People's Place in 1971, using the savings of $150. Even though his venture expanded to a chain (10 stores) by the mid-70s, it later filed for bankruptcy in 1977.
Thereafter, Tommy moved to New York City to pursue the designing career.
He got wide success career & wealth accumulation after he founded eponymous menswear line Tommy Hilfiger Corporation in 1985.
After 7 years of its foundation, the clothing company went public in 1992, following expansion to women-wears, fragrances & other luxury items.
The company was sold to private equity firm Apax Partners in December 2005 (sales was completed in May 2006) for a reported $1.6 billion or $16.80 a share along with 5,400 employees.
Later, in May 2010, the Phillips-Van Heusen (PVH Corp.) bought the clothing company Tommy Hilfiger Inc. for $3 billion.
Reportedly, it was PVH Corp.'s 7 times more pay than it paid to acquire Calvin Klein in 2003.
Annual Revenue Of Tommy Hilfiger Inc.
In 2002, the Tommy Hilfiger Inc. (still owned by Tommy himself at that time) recorded annual revenue of $1.87 billion. Following some years of sales declination, the company stood steady at $1.13 billion by the mid- the 2000s.
Later, in 2006, it was sold to Apax Partners.
Reportedly between 2000 & 2009, the sales revenue of the clothing company saw an extreme downhill from $1.9 billion to $700 million.
After the Phillips-Van Heusen acquired it in 2010, Tommy Hilfiger Inc. again began to see perks of success- reported $6.4 billion in gross retail sales in 2013 & $6.7 billion in 2014.
Owns Several Real Estates: Details On His Properties
Over the years, the multi-millionaire fashion designer & entrepreneur seems to have made quite handy experiences in real estate trades too.
After 11 years of hitting the on-off market, Tommy sold his New York City penthouse at the Plaza Hotel, in October 2019 for $31.25 million to car tycoon Terry Taylor.
Tommy & his wife Dee Ocleppo had bought the 2 units property spanning in the 18th and 19th floor, in 2008 for $25.5 million.
Reportedly, they saw many unsuccessful attempts to unload it: in 2014 (for $80 million), in 2015 ($75 million) & in November 2016 (for $58.9 million).
Formerly, Hilfiger owned a 5-bedroom beachfront Mediterranean estate in Palm Beach, Florida. Along with his wife, the fashion designer bought the house in April 2017 for $34 million & sold it in August 2018 for $1 million profit, at $35 million.
The Variety reports, in February 2017, Tommy tried to unload his Miami beach home in Golden Beach, Florida with an asking price of $27.25 million.
The property featuring 7 bedrooms, 8 full and 4 half bathrooms & spread on 14,075 sq. ft. was originally purchased by the couple in August 2013 for $17.25 million.
However, the Florida property was pulled out of market later & is still owned by the Geoffrey Beene Lifetime Achievement Award winner.
Furthermore, the couple also owns other properties:
- A 6.5-acre property in the Caribbean island of Mustique
- A 22-acre enclave in Greenwich, Connecticut- features expansive lawns, a grass tennis court & a swimming pool
- Oceanfront estate spread in 2 acres in Hamptons' hamlet of Amagansett- Bought in 2007 for $25.7 million
What Car Does He drive?
Tommy drives a 2010 Bentley Continental sedan, that cost him $126,280 as per Forbes & fetches the tax bill of $1, 260 every year.
Formerly, he owned a 2003 Ferrari Enzo which he bought for $633,360; it cost him $6,300 in annual taxes.
In November 2016, the car was sold in an auction for $1.1 million, although, it was expected to be between $4 million & $6 million.
Charity Works & Donations
The '2006 We Are Family Visionary Award Honoree', Tommy Hilfiger runs the Tommy Hilfiger Corporate Foundation since 1995; it focuses on at-risk American youth & supports charities that work for health, educational and cultural programs.
Having served on board of director of The Fresh Air Fund, the American designer made a 5-year commitment worth $2 million 2009 for Millennium Promise.
Moreover, he has associations with many other non-profit organizations:
- Washington D.C. Martin Luther King Jr. National Memorial Project Foundation
- Elephant Family
- Gabrielle's Angel Foundation
- Elton John AIDS Foundation
- Race to Erase MS
Married Twice & Father Of 5
The Tommy Hilfiger Corporation founder Tommy married twice in his life & divorced once; he became the father of 4 children with first wife & shares a son with the second (current) wife.
Hilfiger lives with his second wife Dee Ocleppo; they married on December 12, 2008, & welcomed a son, Sebastian Thomas Hilfiger, on August 4, 2009.
As for a fact, he also 2 step-sons from Dee's previous marriage.
Prior, he was in a marital relationship with Susie Hilfiger. They exchanged vows on September 3, 1980, & divorced on July 27, 2000.
While together, they became parents to 4 children: Ally Hilfiger, Rich, Elizabeth & Kathleen.
Tommy was born Thomas Jacob Hilfiger on March 24, 1951, in Elmira, New York, the USA. His father's name was Richard Hilfiger while his mother Virginia Hilfiger was a nurse.
Raised in a Catholic family, Hilfiger is 2nd of 9 children.
In 1975, he graduated from Elmira Free Academy High School & later went to GST BOCES Bush Campus in Elmira.