CK Calvin Klein
09 Mar. 2012
CALVIN KLEIN RECOUPS CK EUROPEFashion group PVH announced that its subsidiary Calvin Klein buys back its license for the distribution and sale of CK Calvin Klein apparel and accessories and the operation of retail stores in Europe, effective in 2013. The licenses are currently held by Warnaco. The PVH International division that also runs Tommy Hilfiger globally will appoint a team to operate this business.
“Bringing the CK Calvin Klein European operations in-house creates an opportunity for us to better develop the Calvin Klein brand in Europe by leveraging PVH’s European infrastructure,” said Tom Murry, President & Chief Executive Officer, Calvin Klein. “PVH’s 2010 acquisition of Tommy Hilfiger brought with it an excellent European operating platform and distribution network with dedicated market expertise.”
Fred Gehring, CEO of Tommy Hilfiger and PVH International said, “… By directly integrating the business into our European organization and commercial infrastructure, we believe the CK Calvin Klein European business has the potential to reach approximately $500 million in sales in the next 5 to 7 years.”
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