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>> Tommy Hilfiger Sold to Phillips-Van Heusen — Fresh off one of the strongest Tommy Hilfiger collections in recent seasons (which Peter Som consulted on), Calvin Klein owners Phillips-Van Heusen have acquired Hilfiger from British firm Apax Partners for about 2.2 billion euros ($3 billion).  The deal marks the first major acquisition in retail circles in years, according to the Wall Street Journal.  Tommy Hilfiger has no management role at the company, but remains as the brand's face and "principal designer"; as for Peter Som's continued involvement with the brand, as of the Fall 2010 show, the future of the relationship was uncertain. [WSJ, NYT]

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