Calvin Klein, Inc. and Swatch Group Agree to End Licensing Agreement
October 22 2019 - 10:57AM
Business Wire
Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp.
[NYSE: PVH], has been evaluating our watch and jewelry license over
the past few years as the growth opportunity we see for the
category has not been optimized with the current licensee, Swatch
Group. Calvin Klein and Swatch Group have agreed to end the
relationship after 22 years, as both partners believe that they
have been unable to achieve the maximum potential in key markets.
Calvin Klein is currently evaluating the best possible partner for
the future and will announce its partner in due course.
“We are very optimistic about the potential growth the watch and
jewelry category holds for us. We are confident that with the right
partner in place we will be able to strengthen this category, as
well as our overall lifestyle business,” said John Van Glahn,
President Licensing, Calvin Klein, Inc.
About Calvin Klein Inc.:
CALVIN KLEIN is a global lifestyle brand that exemplifies bold,
progressive ideals and a seductive aesthetic. We seek to thrill and
inspire our audience while using provocative imagery and striking
designs to ignite the senses.
Founded in 1968 by Calvin Klein and his business partner Barry
Schwartz, we have built our reputation as a leader in American
fashion through our clean aesthetic and innovative designs. Global
retail sales of CALVIN KLEIN brand products exceeded $9 billion in
2018 and were distributed in over 110 countries. Calvin Klein
employs over 11,500 associates globally. We were acquired by PVH
Corp. in 2003.
About PVH:
PVH is one of the most admired fashion and lifestyle companies
in the world. We power brands that drive fashion forward – for
good. Our brand portfolio includes the iconic CALVIN KLEIN, TOMMY
HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s, Olga and
Geoffrey Beene brands, as well as the digital-centric True &
Co. intimates brand. We market a variety of goods under these and
other nationally and internationally known owned and licensed
brands. PVH has over 38,000 associates operating in over 40
countries and $9.7 billion in annual revenues.
*The Speedo brand is licensed for North America and the
Caribbean in perpetuity from Speedo International Limited.
SAFE HARBOR STATEMENT OF PVH CORP. UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: Forward-looking statements made in
this press release, including, without limitation, statements
relating to PVH Corp.’s future plans, strategies, objectives,
expectations and intentions, are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements are
inherently subject to risks and uncertainties, many of which cannot
be predicted with accuracy, and some of which might not be
anticipated, including, without limitation: (i) the Company's
plans, strategies, objectives, expectations and intentions are
subject to change at any time at the discretion of the Company;
(ii) the levels of sales of the Company's licensees at wholesale
and retail, and the extent of discounts and promotional pricing in
which the Company's licensees and other business partners are
required to engage, all of which can be affected by weather
conditions, changes in the economy, fuel prices, reductions in
travel, fashion trends, consolidations, repositionings and
bankruptcies in the retail industries, and other factors; (iii)
civil conflict, war or terrorist acts, the threat of any of the
foregoing, or political and labor instability in any of the
countries where the Company's licensees' or other business
partners' products are sold, produced or are planned to be sold or
produced; (iv) disease epidemics and health related concerns, which
could result in closed factories, reduced workforces, scarcity of
raw materials and scrutiny or embargoing of goods produced in
infected areas, as well as reduced consumer traffic and purchasing,
as consumers become ill or limit or cease shopping in order to
avoid exposure; (v) the failure of the Company's licensees to
market successfully licensed products or to preserve the value of
the Company's brands, or their misuse of the Company's brands and
(vi) other risks and uncertainties indicated from time to time in
the Company's filings with the Securities and Exchange
Commission.
The Company does not undertake any obligation to update publicly
any forward-looking statement, whether as a result of the receipt
of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191022005813/en/
Caroline Curtis, VP Corporate Communications, Calvin Klein, Inc.
caroline.curtis@ck.com
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