In order to reduce costs, US fashion company Calvin Klein Inc. will cut 90 of the 900 jobs in the New York headquarters, and discontinue its men’s and women’s casual wear collection in the US.
Designer Calvin Klein is quoted as saying that he now intends to focus on his main label Calvin Klein. In Europe, the CK collection will continue and be merged with CK Jeanswear, Calvin Klein’s Italian licensee Gruppo Fratini from Florence.
According to industry insiders, CK Apparel in the last year accounted for $ 50m (EUR 57m) of the group’s total turnover. It has been rumoured that Calvin Klein also plans to transfer his creative team to Italy, possibly to Milan.
Calvin Klein’s men’s wear line is already being produced by Italian fashion group Gft, and for some seasons now, Calvin Klein has been presenting his men’s wear at the Milan Fashion Week.
All this information has lead industry watchers to the speculation that the company once more might be considering to sell. In 2000, the brand had been up for sale for approx. $ 1bn (EUR 1.1bn), but had found no potential buyer.