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Saturday, August 8, 2020

C-Suite Lifestyle

5 Things You Might Not Know About The Fashion Powerhouse, Calvin Klein

Even if the fashion industry does not interest you, you have most likely heard of Calvin Klein. It is, after all, an influential brand that has gone on to shape the global fashion order. Ever since its foundation in the year 1968, its growth has been remarkable in many ways and it has created a special place for itself. Luxury fashion is incomplete without Calvin Klein, and there are many reasons why.

An empire of its own, Calvin Klein offers a range of things to its customers. From clothes to home furnishings, its involvement in nearly every aspect of luxury comfort is a mainstay. But, you might wonder what Calvin Klein is. After all, there is so much about a brand we can know. So, let us dive a little deep into the world of Calvin Klein and know what it really is all about.

Here are 5 things about Calvin Klein you might not know.

  1. Calvin Klein, the man!
    Before anything else, we should talk about the man whose vision and relentless hard work created what his brand is right now. He is of Jewish descent and was born to an immigrant family in The Bronx in 1942. He started his academic life in art and design at the High School of Art and Design in Manhattan and later joined the Fashion Institute of Technology in New York. He did not finish his studies at the latter institution, though he received an honorary degree later on in the year 2003.  After having done his apprenticeship, he founded his first company with Barry K. Schwartz in the year 1968 which eventually became Calvin Klein Inc.
  2. Calvin Klein Inc belongs to PVH
    Everyone knows the expanse of the Phillips-van Heusen Corporation (PVH Corp.). Most of the well-known fashion brands such as Tommy Hilfiger, Geoffrey Beene, and Arrow are under its aegis. Calvin Klein is no exception. It was in the year 2002 that the brand was sold to PVH as a result of which the company became a wholly-owned subsidiary of PVH. Ever since the acquisition, the sales of Calvin Klein have only increased and is now one of the highest profit-making brands under PVH.
  3. A Constellation of Stars
    With a reputation like Calvin Klein, it is not surprising that it attracts the finest of the talents in the entertainment industry. Many hot shots from the film industry have worked with Calvin Klein such as Margot Robbie, Eva Mendes, Kellan Lutz, Diane Kruger, Scarlett Johansson, Justin Bieber, and Saoirse Ronan. Notable models have been a part of the brand as well such as Natalia Vodianova, Lara Stone, Travis Fimmel, and Liu Wen. In the year 2019, the brand roped in Sarah Rae Vargas for its plus-size women clothing.
  4. Financial Crisis
    The brand has established a robust foundation in the global fashion industry but there were times where it did struggle to keep it all together. In the 1990s, the company was going through serious financial problems and almost faced bankruptcy in the year 1992. Reportedly, there were many reasons why the company ended up facing a crisis like these. There were disagreements with the licensee of its menswear line, slowing sales, and increased pressure to perform better and increase sales. The company was about to be sold to Triangle Industries but couldn’t because of the stock market crash at that time. However, under the able leadership of Calvin Klein, the company managed to get through the crisis many thanks to the sales of the brand’s underwear line.
  5. Luck with Fragrances
    Calvin Klein ventured into the business of fragrances in the 1970s. However, unlike most of its other products, the brand’s fragrances failed to attract customers as a result of which the company ended up with huge financial losses. The impact of these losses was such that the company withdrew its fragrances from the market and did not launch them for many years. Today, Calvin Klein has created a reputation for its wonderful collection of fragrances.  Until the year 2015, the fragrances were handled by Calvin Klein Cosmetics Company, a Unilever Company. Later, Coty, Inc. bought the licensing agreements from Unilever.

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Ayushi Kushwaha
Ayushi Kushwaha, Staff Writer for the CEOWORLD magazine. She’s spent more than a decade working for various magazines, newspapers, and digital publications and is now a Staff Writer at The CEOWORLD magazine. She writes news stories and executive profiles for the magazine’s print and online editions. Obsessed with unlocking high-impact choices to accelerate meaningful progress, she helps individuals and organizations stand out and get noticed. She can be reached on email ayushi-kushwaha@ceoworld.biz.