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Apax Partners Plans $3 Billion Tommy Hilfiger Float: FT

Private equity firm Apax Partners is preparing to float U.S. clothing label Tommy Hilfiger with a price tag of up to $3 billion, the Financial Times said on Saturday.

The newspaper cited unidentified people familiar with the situation as saying Apax had invited several investment banks to pitch for the business.

Apax bought Tommy Hilfiger, which earlier this week launched a collection designed by soccer star Thierry Henry, for $1.6 billion in a deal that closed in 2006.

Neither Apax nor Tommy Hilfiger could immediately be reached for comment.