PVH Corp, the parent of Calvin Klein, is to take its ck Calvin Klein apparel and accessories for Europe inhouse from next year.
Warnaco, which currently holds the licence for the distribution and sale of ck Calvin Klein apparel and accessories and the operation of retail stores in Europe, will continue to run Calvin Klein jeans and Calvin Klein underwear.
PVH International, a division of PVH Corp that also manages Tommy Hilfiger globally, will put together a team to run 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 chief executive, Calvin Klein.
The Calvin Klein operation will be integrated into PVH International, which last year acquired Tommy Hilfiger from Apax Partners. Fred Gehring, chief executive of Tommy Hilfiger and PVH International, will lead the operation.
Gehring said: “By directly integrating the business into our European organisation and commercial infrastructure, we believe the ck Calvin Klein European business has the potential to reach approximately $500m (£315.6m) in sales in the next five to seven years.”