PVH To Buy Warnaco, Unite All Calvin Klein Brands
The corporation, which owns Calvin Klein, Tommy Hilfiger, and a stable of other big names in American fashion, has announced plans to buy Warnaco, the company whose holdings include the licenses for Calvin Klein Jeans and Calvin Klein Underwear.
WWD reports that the deal is expected to close by early 2013, and all executives involved are enthusiastic about the acquisition. Emanuel Chirico, chairman and CEO of PVH told the paper:
“This is a unique opportunity to reunite the ‘House of Calvin Klein’ and reinforces our strategy to drive the global growth of Calvin Klein. Having direct global control of the two largest apparel categories for Calvin Klein — jeans and underwear — will allow us to unlock additional growth potential of this powerful designer brand across all major product categories, geographies and distribution channels. The Warnaco Calvin Klein businesses will be moved onto our Calvin Klein platform under the leadership of Tom Murry, president and chief executive officer, Calvin Klein, to ensure a single brand vision globally.”
All the Calvin Klein brands together at last under one big CK-printed umbrella. Just like it was meant to be.