Tommy Hilfiger Group Announces Launch of PVH Europe and New Management for Arrow Brand in Europe

AMSTERDAM, November 12, 2010 - The Tommy Hilfiger Group, which is wholly owned by
Phillips-Van Heusen Corporation [NYSE: PVH] announced today that it is
establishing a new division that will take control of the ARROW brand in
Europe effective immediately and will manage the future introduction of
additional Phillips-Van Heusen brands to the European market. The new
division, PVH Europe, will be based in Amsterdam, the Netherlands. Michael
Arts, who has been serving as Executive Vice President of Global Brand
Management for Tommy Hilfiger, will assume the additional role of President
of PVH Europe and will be supported by a dedicated team, as well as the
existing Tommy Hilfiger European infrastructure.

"Since joining forces with PVH in May of this year, we have studied the
opportunities for international expansion of PVH's most iconic brands, using
Europe as a starting point. We strongly believe in the global potential for
the ARROW brand due to its extremely credible - almost unparalleled- American
heritage. ARROW's heritage goes back over 150 years and the brand has a
wealth of history in its archives ready to be rediscovered and interpreted
for today's world," said Fred Gehring, CEO of the Tommy Hilfiger Group and
PVH International. Mr. Gehring continued, "No one is better suited to launch
this endeavor than Michael Arts, one of the key Tommy Hilfiger team members
since our launch in Europe in 1997. His involvement illustrates the
seriousness with which we are embarking on this endeavor. Long before our
acquisition by PVH, we viewed ARROW as one of the most interesting authentic
American brands with great potential in Europe. With the launch of PVH
Europe, we are extremely excited to realize its full potential under
Michael's passion and leadership."

ARROW will premiere as a featured brand at Pitti Uomo Imagine in Florence
in January 2011. The first ARROW collection under PVH Europe will launch at
retail in Fall 2011, exclusively offering men's shirts in keeping with the
American brand's significant heritage in this category. The launch will be
comprised of three different labels targeting the dress, casual and
contemporary segments respectively. Following the presentation at Pitti Uomo
in January 2011, ARROW will be shown in showrooms around Europe by
appointment only.

Michael Arts, President of PVH Europe, commented, "For some
time now, I had been eager to immerse myself in the ARROW archives, imagining
that it would hold many treasures. When I finally had the opportunity to do
so, I found an enormous collection of imagery, design, merchandising and
marketing ideas, all of which were extremely innovative for their time. At
that moment I clearly envisioned ARROW as it could be re-crafted for the
future; respectful of its heritage, yet fully relevant for today. This rich
history provides a strong platform for ARROW to eventually be developed into
a lifestyle brand with strong category specialization. I strongly believe in
this opportunity and can't wait to get started."

About the Tommy Hilfiger Group

With a premium lifestyle brand portfolio that includes Tommy
Hilfiger and Hilfiger Denim, the Tommy Hilfiger Group is one of the world's
most recognized designer apparel groups. Its focus is designing and marketing
high-quality menswear, womenswear, children's apparel and denim collections.
Through select licensees, the Group offers complementary lifestyle products
such as accessories, fragrances and home furnishings. Merchandise under the
Tommy Hilfiger brands is available to consumers worldwide through an
extensive network of Tommy Hilfiger retail stores, leading specialty and
department stores and other select retailers and retail channels. For
additional information about the Tommy Hilfiger Group, please visit
www.tommy.com.

About Phillips-Van Heusen Corporation

Phillips-Van Heusen Corporation, one of the world's largest
apparel companies, owns and markets the iconic Calvin Klein and Tommy
Hilfiger brands worldwide. It is the world's largest shirt and neckwear
company and markets a variety of goods under its own brands, Van Heusen,
Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its
licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth
Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Trump, JOE Joseph
Abboud, DKNY and Timberland. Visit www.pvh.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Forward-looking statements made in this press release are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements are inherently subject to risks and uncertainties,
many of which cannot be predicted with accuracy, and some of which might not
be anticipated, including, without limitation, the following: (i)
Phillips-Van Heusen Corporation's plans, strategies, objectives, expectations
and intentions are subject to change at any time at the discretion of the
Company; (ii) in connection with the acquisition of Tommy Hilfiger B.V. and
certain affiliated companies (collectively, "Tommy Hilfiger"), the Company
borrowed significant amounts, may be considered to be highly leveraged, and
will have to use a significant portion of its cash flows to service such
indebtedness, as a result of which the Company might not have sufficient
funds to operate its businesses in the manner it intends or has operated in
the past; (iii) the Company's plans and results of operations will be
affected by the Company's ability to manage its growth and inventory; and
(iv) other risks and uncertainties indicated from time to time in the
Company's filings with the Securities and Exchange Commission.

The Company does not undertake any obligation to update
publicly any forward-looking statement, whether as a result of the receipt of
new information, future events or otherwise.

For further information: Media Inquiries: Abdel El Hamri, Director of Communications - Europe, Tommy Hilfiger Europe B.V., Tel: +31(0)20-589-5701, abdel.elhamri at tommy.com; Avery Baker, EVP of Global Marketing & Communications, Tommy Hilfiger Europe B.V., Tel: +31(0)20-589-9889, avery.baker at tommy.com; Investors: Michael Shaffer, EVP and Chief Financial Officer, Phillips-Van Heusen Corporation, Tel: +1-212-381-3523, michaelshaffer at pvh.com