PVH Corp has made an offer to buy Australia's Gazal, as the U.S. company looks to expand its direct control of businesses operated under the Calvin Klein and Tommy Hilfiger brands globally. Gazal and PVH first entered into a joint venture partnership in 2014, forming PVH Brands Australia. The JV holds licenses for PVH’s Calvin Klein, Tommy Hilfiger and Van Heusen brands, as well as the Pierre Cardin, Bracks and Nancy Ganz brands in Australia, New Zealand and other parts of Oceania.

With the deal set to close in the second quarter of 2019, PVH Corp has acquired the remaining interest in Gazal that it does not already own for A$6 per share, and the aggregate net purchase price for the 78 per cent of Gazal shares being acquired is approximately A$124 million. PVH affirmed that management at both Gazal and PVH would remain in their current roles for the next two years and would use approximately 25 per cent of their existing Gazal equity to subscribe for an approximate 6 per cent stake in the PVH subsidiary that is the parent company of the acquirer.