Friday, 23 Aug 2019

Losing money, Calvin Klein closed its high-end fashion division


IllustrationIllustration - American fashion label Calvin Klein announced on Wednesday that it had closed its high-end fashion division in the context of a restructuring carried out by the company that houses them, PVH. "We can confirm that the Calvin Klein 205W39NYC business has been closed" the company told AFP.

PVH brings Belgian fashion designer Raf Simons from Dior in 2016 to "refresh" the fashion label, which has stagnated since the founder's departure in 2002. Referred to as "Creative Leader," he has full power and responsibility to increase profits from this label's high-end division.

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But Simons's resignation was announced in December after weeks of uncertainty, after a PVH manager blamed himself for the decline in sales. PVH, which also owns Tommy Hilfiger, announced in early January a change in strategy, including the Calvin Klein 205W39NYC, along with the closure of its flagship store on Madison Avenue, Manhattan.

The Women's Wear Daily fashion news website even wrote that as many as 100 employees in New York and Milan had been laid off. A label spokesman told AFP that his company was "open to presenting collections in a variety of current formats, including in terms of fashion shows." In 2017, sales of Calvin Klein products ranging from perfume to watches and glasses produced turnover of USD 9.1 billion.


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