Home / Knowledge / News / Apparel/Garments / Warnaco acquires Italian franchise operations
Warnaco acquires Italian franchise operations
05
Oct '10
The Warnaco Group, Inc. announced that it acquired twenty-two Calvin Klein Jeans retail stores and related assets from its largest Italian franchise partner, L'Innominato S.p.A, a part of the Percassi Group.

These stores, which are located in leading shopping centers across Italy, are expected to generate approximately EUR 28 million, or $38 million at current exchange rates, in revenues in fiscal 2011 and add over 50,000 square feet of new retail space to the Company's owned portfolio. Based on revenues, this transaction will establish Italy as the Company's largest retail market in Europe, with fifty-eight directly operated stores.

The Company expects the transaction to be accretive to operating earnings in fiscal 2011.

"This acquisition is consistent with our global growth strategies to expand our profitable international business and our direct to consumer footprint. Italy is one of our largest markets outside the United States and we are delighted to expand our direct operations and revenues in this key market," commented Joe Gromek, Warnaco's President and Chief Executive Officer.

"This transaction will generate a strong return on investment, and will enable us to leverage our regional and country platform and infrastructure as well as our full complement of products and marketing to maximize sales and profits."

The Warnaco Group, Inc., headquartered in New York, is a leading global apparel company engaged in the business of designing, sourcing, marketing and selling men's, women's and children's sportswear and accessories, intimate apparel, and swimwear under such owned and licensed brands as Calvin Klein, Speedo, Chaps, and Warner's and Olga.

Warnaco Group Inc

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search