US: PVH to take ck Europe in-house
The new arrangement, which is effective from 2013, will also involve the operation of branded retail stores, as well as the establishment of a dedicated team to manage the brand in Europe.
“Bringing the ck Calvin Klein European operations in-house creates an opportunity for us to better develop the Calvin Klein brand in Europe by leveraging PVH’s European infrastructure,” said Tom Murry, President and CEO, Calvin Klein.
“PVH’s 2010 acquisition of Tommy Hilfiger brought with it an excellent European operating platform and distribution network with dedicated market expertise.
“We feel that this established platform, under the leadership of Fred Gehring, CEO of Tommy Hilfiger and PVH International, combined with the strength of our brand and Calvin Klein’s innovative in-house design and marketing teams, will accelerate the growth of the business from where it is today.”
Gehring said the ck Calvin Klein had “great potential” in Europe, predicting that sales could reach US$500m in the next five to seven years.
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