Market Turmoil Delays Tommy Hilfiger IPO

Private equity firm Apax Partners has indefinitely postponed the planned flotation of U.S. fashion company Tommy Hilfiger on Euronext due to volatile markets, it said on Thursday.

"With the global corporate headquarters now located in Amsterdam, the company has explored Amsterdam as the location for a possible initial public offering (IPO) over the past few months," Apax and the fashion group said in a joint statement.

They said investor feedback has been positive but they have decided to wait until market conditions have stabilised. Apax owns the clothing firm.

Tommy Hilfiger is reportedly valued at between 2 billion euros ($2.92 billion) and 3 billion euros.

A number of companies have delayed or withdrawn plans for IPOs due to the recent turmoil in global markets.