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 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Warangal textile park gets environment clearance

The Kakatiya Mega Textile Park, coming up in Warangal district of...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Eamonn Tighe
Nature Works LLC

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X