USA: Kellwood Buys Back Klein Unit From GAV
Apparel and soft goods marketer Kellwood Company is to buy GAV's interests in the Calvin Klein women's better sportswear business - ending a deal whereby GAV managed Calvin Klein women's better sportswear as a business venture with Kellwood - and has also named Stephen Ruzow as president of the unit.
The separation is the result of GAV's intention to focus on its other apparel businesses, including its ck Calvin Klein bridge sportswear line, which have been expanding over the last two years, and Kellwood's plans to concentrate its efforts on Calvin Klein women's better sportswear.
Alexander Vreeland, president and chief operating officer of GAV, said: "Now that the Calvin Klein business is launched and established across the US and Canada, Andy Grossman (GAV chief executive) and I are very pleased to transfer our interests in the Calvin Klein women's better sportswear business to Kellwood.
"This frees us to concentrate on the ck Calvin Klein bridge business and Emanuel/Emanuel Ungaro sportswear business."
The Calvin Klein women's better sportswear collection is produced by Kellwood under a license agreement with Calvin Klein Inc, a wholly-owned subsidiary of the Phillips-Van Heusen Corporation.
Ruzow was previously president of Kellwood women's wear, a post he had held since joining the Company in October 2001.
Kellwood specialises in branded as well as private label products, and markets to all channels of distribution with product specific to a particular channel.
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