In an attempt to prevent key personnel from leaving following the company's acquisition by Apax Partners, Tommy Hilfiger has set up a retention bonus of £7 million. The luxury clothing group has created the bonus plan for top executives who remain with the company for 180 days following the completions of the transaction.

Both founder and designer Tommy Hilfiger and chief executive David Dyer are not qualified for the scheme. Two days before Christmas Hilfiger agreed to be bought by private equity group Apax Partners for £1 billion.