The famous American brand Calvin Klein announced that is closing down its famous runway division as part of a restructuring by parent company PVH. PVH brought in Belgian designer Raf Simons from Dior in 2016 to revitalize the brand, which had stagnated since the departure of its New Yorker founder in 2002. The designer had vast powers as he was charged with boosting profits of the brand’s high-end collection. But his departure was announced in December following weeks of uncertainty after a PVH manager apportioned him some of the blame for declining sales.
PVH, which also owns Tommy Hilfiger, in early January, announced strategic changes including tweaking Calvin Klein 205W39NYC’s name and the closure of its flagship store on Manhattan’s Madison Avenue. But it has now chosen to totally abandon the division and, according to recent reports specialist website Women’s Wear Daily, has let go 100 employees in New York and Milan.
The brand’s spokesperson told media that it is open to presenting our collections in a broad range of formats moving forward, including runway shows. In 2017, Calvin Klein’s sales of products from perfume to watches and glasses led to a turnover of $9.1 billion dollars.
