Life & Style
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| American fashion label Calvin Klein announced on Wednesday it is closing its high-end runway division as part of a restructuring by parent company PVH. — AFP Photo |
Viet Nam News
NEW YORK — American fashion label Calvin Klein announced yesternesday it is closing its high-end runway division as part of a restructuring by parent company PVH.
"I can confirm that the Calvin Klein 205W39NYC business is closing," the company said. PVH brought in Belgian designer Raf Simons from Dior in 2016 to revitalise the brand, which had stagnated since the departure of its namesake New Yorker founder in 2002.
Dubbed "chief creative officer", he had vast powers as he was charged with boosting profits of the brand’s high-end collection. But Simons’ departure was announced in December following weeks of uncertainty, after a PVH manager apportioned him some of the blame for declining sales.
PVH, which also owns Tommy Hilfiger, in early January announced strategic changes including tweaking Calvin Klein 205W39NYC’s name, and the closure of its flagship store on Manhattan’s Madison Avenue. But it has now chosen to totally abandon the division and, according to specialist website Women’s Wear Daily, has let go 100 employees in New York and Milan.
The brand’s spokesperson said it is "open to presenting our collections in a broad range of formats moving forward, including runway shows." In 2017, Calvin Klein’s sales of products from perfume to watches and glasses led to a turnover of US$9.1 billion dollars. — AFP
