Calvin Klein Inc.
It the most known fashion house founded by
American fashion designer Calvin Klein.
November 19, 1942 New york
The company is headquartered in Midtown Manhattan, New York City & is currently owned by :- Phillips-Van Heusen
From birth till expansion
1968–: The early yearsKlein founded Calvin Klein Limited, a coat shop in the York Hotel in New York City, with $10,000. The first Calvin Klein collection was a line of "youthful, understated coats & dresses" featured at the New York City store, Bonwit Teller. September 1969, Klein appeared on the cover of Vogue magazine. 1970s 1971 Klein added sportswear, classic blazers & lingerie to his women's collection. 1973 received his first Coty American Fashion Critics' Award for his 74-piece womenswear collection - the youngest recipient at that time. Klein won the award again in 1974 & 1975.
1977, annual revenues had increased to $30 million, & Klein had licenses for scarves, shoes, belts, furs, sunglasses, & sheets. Klein & Schwartz were making $4 million each.
After the company signed licenses for cosmetics, jeans, & menswear, Klein's annual retail volume was estimated at $100 million.
1978, Klein claimed sales of 200,000 pairs of his famous jeans the first week they were on the market. 1981, Fortune figured Klein's annual income at $8.5 million a year. 1970s, created a designer-jeans craze by putting his name on the back pocket. 1980s, as the designer-jeans frenzy reached its all-time high, Calvin Klein introduced a highly successful line of boxer shorts for women & a men's underwear collection which would later gross $70 million in a single year. Calvin Klein's underwear business, promoted later in the 1990s with giant billboards showing images of pop singer Mark "Marky Mark" Wahlberg, became so successful that his underpants became generally known as "Calvins". Not every Decsion has gone correct because they tried to be ahead of time & think beyond the thinking of person at that time In the late 1970s, the company also made attempts to set up its own fragrance & cosmetics lines, but soon withdrew from the market with big financial losses. 1980s–1985: UnderwearIn the early 1980s Klein changed the American market of men's underwear—one where most men's underwear was white, purchased in packs of three by a "wife, mother or girlfriend when they needed to be" to one where "the American male to care about the brand of something few ever see". The stunning growth continued through the early eighties. The licensing program, which brought in $24,000 when it was initiated in 1974, had royalty income of $7.3 million ten years later. That year, worldwide retail sales were estimated at more than $600 million. Klein's clothes were sold through 12,000 stores in the United States & were available in six other countries. His annual income passed $12 million. Financial problems, increased pressure from all sides, disagreements with the licensee of the menswear line & its disappointing sales as well as an enormous employee turnover both within Calvin Klein & its licensing partners led to the first rumors that Calvin Klein Industries, as the company had been known by then, was up for sale. & indeed, in late 1987, it was said that the sale of the company to Triangle Industries, a container manufacturer, had only failed because of the crashing stock market. Although the company almost faced bankruptcy in 1992,
Calvin Klein managed to regain & increase the profitability of his empire throughout the later 90s, mainly through the success of its highly popular underwear & fragrance lines, as well as the ck sportswear line. Klein was named "America's Best Designer" for his minimalist all-American designs in 1993, Other potentials like
Tommy Hilfiger Corp. & Italy's Holding di Partecipazioni proved to be similar disappointments...
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