Famous fashion names have started making grand changes in their business lives. We already told you about Pierre Cardin, who has decided to sell his empire for €1 billion, and now Tommy Hilfiger has bought the Clock Tower building at 5 Madison Avenue, between 24th and 23rd , to turn it into a luxe hotel.
Mr. Hilfiger has sold his fashion company for over a year now, and he is ready to invest some good money in other big projects. His apparel company went to Phillips-Van Heusen for $3 billion and the MetLife Clock Tower has only cost him $170 million.
This is not the first time someone tries to convert the tower in something special for luxury aficionados, but all previous attempts (most developers wanted to convert it to condominiums) have failed. This time the plan is to make the building a nice luxury hotel and we can’t wait to see the final result. We believe the conversion will happen as planned, because Mr. Hilfiger has been looking for such an opportunity for quite a while now.