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Universal Music signs Tommy Hilfiger
Universal Music has signed up Tommy Hilfiger to produce "rock n roll inspired" clothes for high-end boutiques and department stores.
Bosses at the record label have recruited the celebrated fashion designer in their latest attempts at finding new revenue streams in an industry where the product – music – no longer brings in enough money, reported the Los Angeles Times.
Hilfiger will be drawing on the skills of musicians at the label to engineer clothes and merchandise with a musical edge.
Instead it will be a legitimate and serious effort to tackle the financial problems of an industry that is suffering from the ever-decreasing sales of music.
With musicians at the label including the likes of Lady Gaga, Kanye West and the Black Eyed Peas, all of whom have an active interest in fashion, the partnership is seen as a possibly lucrative venture.
The newspaper reported that this isn't Universal's first foray into the fashion industry. The music company already owns Atmosphere Apparel, a British-based company that develops merchandise for some of its stars, and another UK merchandise company called Bravado.
So far in 2001, that company has seen a "28 per cent uptick" in sales, and expects to log $400 million (£243 million) in sales by the end of the year.
Universal Music is one of the record labels close to securing a deal with Apple to allow the technology giant access to its music for online streaming.
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Posted on 28 May 2011 16:32 to category : Music News
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