**Clothing and design group Tommy Hilfiger is being bought by the owner of Calvin Klein, Philips-Van Heusen.**The 2.2bn euros (£2bn;$3bn) deal will create one of the world’s largest clothing companies with $4.6bn revenue.
Tommy Hilfiger is being sold by private equity firm Apax partners who bought it for $1.6bn in 2006.
The eponymous founder, Mr Tommy Hilfiger, will remain involved with the company as its principal designer and visionary for the brand.