Apparel maker PVH Corp said on Thursday it would exit its high-end collection of...
- Apparel maker PVH Corp said on Thursday it would exit its high-end collection of Calvin Klein apparel and shut the label’s flagship store on New York’s Madison Avenue, as the fashion line failed to strike a chord with customers.
The company also said it was in talks with its North America apparel partner G-III Apparel Group LTD to license out the brand’s women’s jeans unit. “We believe this was the right decision for the long-term health of the brand as the existing high-end business was not resonating with our core consumer,” Chief Executive Officer Emanuel Chirico said on a post earnings call.
The New York-based company said the decision to exit the label and license out its women’s jeans unit would lower its fiscal 2019 revenue by $100 million.
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