NEW YORK--(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.
