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Calvin Klein to reacquire CK Platinum Label license
05
Sep '15
Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. in the US, has announced its plans to reacquire the existing license agreement held by CK21 Holdings Pte. Ltd. for all production and sale of Calvin Klein platinum label men's and women's accessories.

In a press release, Calvin Klein Inc. said this agreement includes sale in free-standing Calvin Klein platinum accessories stores in China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, Philippines, Indonesia, Australia, New Zealand and South Korea.

As part of the transaction, the Calvin Klein Asia business will also take over certain of CK21's free-standing Calvin Klein Accessories stores and shop-in-shops. Additionally, Calvin Klein Asia will assume production of Calvin Klein platinum men's and women's accessories products for sale within CK21-operated free-standing Calvin Klein platinum label apparel stores and shop-in-shops within the Australia, Hong Kong, Indonesia, Singapore, Taiwan and Thailand regions.

“We are excited about the long term opportunity presented by taking back this business, as it allows us to better optimize the synergies of the Calvin Klein platinum label accessories business together with our broader accessories business, under the creative direction of Ulrich Grimm, Global Creative Director of Shoes and Accessories for Calvin Klein,” said Steve Shiffman, CEO of Calvin Klein, Inc. “The development also aligns with our strategy to further enhance the Calvin Klein brand in the region by leveraging our Calvin Klein Asia Pacific infrastructure. CK21 continues to be a strong partner for us with Calvin Klein platinum apparel and we look forward to continuing our relationship.”

“We believe our longstanding relationship with Calvin Klein has allowed us to drive significant growth in the market over the last several years, and we feel that Calvin Klein taking over the platinum label accessories business will allow them to better leverage their existing accessories business as well as other lines of their business,” said EL Goh, Regional General Manager of CK21.

Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women's and men's designer collection apparel and accessories, and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. (SH)

Fibre2Fashion News Desk – India

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