Calvin Klein has announced that it will not be continuing its ready-to-wear business.
The brand will instead focus mainly be on lines that are most profitable, such as perfume, denim and underwear collections which are produced by third party licensing partners. The restructuring means that it will no longer show collections during New York Fashion Week and approximately 100 employees in New York and Milan were let go.
Further to that Michelle Kessler-Sanders, president of Calvin Klein 205W39NYC and Calvin Klein by Appointment, will be leaving the company in June after closing down the business. Thereafter he may continue to work in an advisory capacity. Steve Shiffman, chief executive officer of Calvin Klein Inc, will remain in his position and will oversee the changes.
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