Calvin Klein

Summary

Calvin Klein Limited was founded in 1968 as a coat shop in York Hotel and transformed into a multi- million dollar brand that envelopes menswear, womenswear, denim, underwear and fragrance.

History

Born and bred in The Bronx.. Calvin Richard Klein launched his first company with childhood friend Barry Schwartz. When Schwartz joined his family’s grocery business and gave Klein $10,000 he launched Calvin Klein Limited — a coat shop in York Hotel, New York — and inked a deal with department store Bonwit Teller for his debut collection of youthful elegant coats and dresses. Soon Bergdorf Goodman and Saks placed orders and Calvin Klein Ltd. reportedly grossed a million dollars in its first year of business. In September 1969 Calvin Klein appeared on the cover of Vogue. There was no looking back.

In 1971 Klein added sportswear and womenswear, cultivating a minimalist look with fine fabric and sharp tailoring. Klein describes his style as ‘simple, comfortable stylish clothes—but with nothing over-scale or extreme.’ In 1973, and again in ’74 and ’75, he was honoured with Coty American Fashion Critics’ Award for his womenswear collection — the youngest recipient at that time. He then diversified into menswear and denim, and in 1978, reported a sale of two million pairs of jeans the first week it was on the market — he had built a designer-jeans trend by putting his logo on the back pocket.

Growth continued through the Eighties. The licensing program, which brought in $24,000 when it was initiated in 1974 had royalty income of reported $7.3 million a decade later. The same year, global retail sales were estimated at $60 million with the brand being retailed in the United States and available in Canada, United Kingdom, Ireland, Australia, New Zealand and Japan through licensing deals. Calvin Klein further diversified into a line of women’s boxers and men’s underwear which reportedly grossed $70 million in the first year. Shortly, the brand introduced a home line and consolidated business with fragrances ‘Obsession’, ‘Eternity’ and ‘CK One’.

Calvin Klein faced near-bankruptcy in the Nineties but was saved by a bailout from friend David Geffen. As Calvin Klein’s head of menswear design, John Varvatos pioneered men’s boxer briefs, became widely popular by a series of print campaigns featuring Mark Wahlberg; since, the briefs have been called “one of the greatest apparel revolutions of the century.” So it came as a surprise when the company was up for sale and had been approached by LVMH, Pinault Printemps Redoute, Tommy Hilfiger Corp. and Italy’s Holding di Partecipazioni but nothing materialised because of the steep price tag.

The brand was acquired by Phillips-Van Heusen Corporation in 2003 for reported $400 million in cash.. $30 million in stock and licensing rights and royalties linked to revenues over fifteen years. Initially, Klein stayed on as creative head, then as an advisor and gradually withdrew from the business. In August 2016 Raf Simons was named chief creative officer, overseeing the entire brand including womenswear, menswear, jeans, underwear and fragrance. It wasn’t a lasting affair. Per The New York Times: ‘Simons’ departure comes “six months before his contract was due for renewal, and is effective immediately.” No successor has been named and it’s unclear what the next steps will be for either the brand or the designer.’

“Raf brought a unique point of view to American fashion and the CFDA wishes him future success” CFDA chief executive Steven Kolb told BoF. “Calvin Klein is an iconic American brand that will continue to flourish under new creative direction.”

In February 2013, Warnaco Group was acquired by PVH which unified Calvin Klein formal, jeans, sports apparel and underwear. Worldwide retail sales of Calvin Klein brand exceeded reported $9 billion in 2019. The following year, PVH announced that as part of its animal welfare policy, the company would no longer use exotic skins and would be banning its use in Calvin Klein when the “annual update of that policy is released.”

Mission Statement

“We believe in a culture that provokes discovery and brave thinking. We strive to make a positive impact on the world. We inspire passion in our people. We embody authenticity and embrace individuality.”

Vision

Luxury fashion brand Calvin Klein’s vision is to achieve maximal elegance through restraint, effortlessness and timeless designs that celebrate the individual.

Leadership Team

Calvin Klein (Co-Founder)
Barry K Schwarts (Co-Founder)
Cheryl Abel-Hodges (CEO)
Gene Gosselin (CFO)
Jessica Lomax (Creative Director)

Products and Services

Calvin Klein retails womenswear and menswear in addition to fashion accessories- eye wear- fragrance- underwear and a home line.

Awards and Recognition

In 1973, Klein received his first Coty American Fashion Critics’ Award for his 74-piece womenswear collection – the youngest recipient at that time. He won the award again in 1974 and 1975.

References

• Official website Calvin Klein
• Can Raf Simons reinvent Calvin Klein? The New York Times
• Lila Moss for Calvin Klein Evening Standard
• Can Calvin Klein escape? LA Times
• Facebook page of Calvin Klein Facebook
• Calvin Klein and Raf Simons part ways BoF
• Calvin Klein Tests Its Luxury Line WSJ
• PVH Corp. Said to Agree to Stop Using Exotic Skins, After Appeals by PETA WWD
• Twitter page of Calvin Klein Twitter
• The triumph of Calvin-ism Google Books
• Instagram page of Calvin Klein Instagram
• Calvin Klein sells company New York Times
• LinkedIn page of Calvin Klein LinkedIn
• PVH unites Calvin Klein lines in $2.8 billion deal Reuters
• YouTube channel of Calvin Klein Youtube
• Black trans model Jari Jones fronts Calvin Klein’s Pride campaign CNN
• Wiki page of Calvin Klein Wikipedia
• Lupita Nyong’o and Saoirse Ronan: New Faces of Calvin Klein Elle
• Michaela Jaé Rodriguez on Calvin Klein’s New Campaign Elle
• Between Them and Their Calvins the New York Times