Tommy Hilfiger has invested $20 million into the new film, Rags.

The fashion maker recently sold his corporation for $1.6 billion and says, "Now that I closed the deal to sell my fashion company, I plan to invest more personal time and capital in productions within my own entertainment company. I opened Tommy Hilfiger Entertainment six years ago; we've been involved in the music business and we've done some television, but now I'd like to become more serious about media."

According to The Hollywood Reporter, Rags is set to go into production in the summer in New York.

Cinemark Movie Club