Tommy Hilfiger's Road to a $3 Billion Payout

Dots| Things were so bad for Tommy Hilfiger a few years ago, that he was considering selling his clothes at Walmart. There’s nothing wrong with the clothes as America’s cheapest retailer, but this wasn’t the DNA premise of the Tommy Hilfiger’s hip, upscale cool Americana brand.

On May 6, the Tommy Hilfiger brand was sold to Phillips-Van Heusen for $3 billion.

The NYTimes asks: ‘How did Mr. Hilfiger and his partners turn this around so dramatically? Step one: Admit they had a problem in the first place.’ Read on.