Calvin Klein SuccessStory
A Brief Profile
Calvin Klein Inc., is an American apparel company, which designs and markets varieties apparels around the world. Calvin Klein is a subsidiary of PVH Corp., one of the big shots of the clothing industry. Besides clothing, Calvin Klein marks its presence in perfumes and fashion. The company has its headquarters at Manhatten, New York. The brand enjoys a privileged position in the US, which is its biggest market.
More than sixty percent of Calvin Klein’s sales are through its apparel division. It adopts a tier based approach in the market for the sales; Calvin Klein Collection, Calvin Klein (platinum label), Calvin Klein Jeans, Calvin Klein Underwear. This tier based approach is to increase the focus and growth to each of its products. The company also generates income from Calvin Klein Licensing. With three brands of its own, Calvin Klein has more than 50 licensing agreements.
Other than clothes, the company has also entered into furniture manufacture. The Calvin Klein line is its furniture market unit, which sales its products through exclusive Macy’s stores and the Calvin Klein Home, the curator collection of company’s furniture division markets its products through retailers in US market.
Barry Schwartz and Calvin Klein in 1968 established Calvin Klein Limited at New York, giving a new dimension to the fashion world. By 1971, Klein has widened his field by designing sportswear, women’s lingerie. He was the recipient of 1973’s Coty American Fashion Critic Award. Calvin Klein Jeans was a huge success in the 1970s. With less than one decade, Calvin Klein achieved an estimated retail volume of $100 million. To the end of the decade,the company has marked its entry into perfumes and cosmetics.
The company saw its all-time high in the 1980s. With its jeans, boxer shorts and underwear collection it grabbed 70 million dollars in a single year. Calvin Klein has radicalized the underwear market with its products and catchy advertisements. By the acquiring PVH in 2002, the brand has expanded in the Asian market and it was this move that made Calvin Klein a global brand.
According to PVH, the annual sales of Calvin Klein have cornered 8 billion US dollars. PVH also brought Warnaco in 2013, which had the largest licensee of Calvin Klein products put Calvin Klein on a safer road.
No brand has influenced American markets for undergarments as Calvin Klein. It has simply changed the concept of this market and utilized the maximum from it. In the 1980’s ‘Calvins’, became the synonym for underpants in the US. After the annexation of the brand by PVH, CK flourished dynamically across the globe. The Digital IQ index: Fashion has ranked the brand # 9 in 2014.
Now, owned by PVH, Calvin Klein does not directly involve in any social responsibility programs. But PVH is a corporation, which stands for the human right concerns, community development and is also concerned about environmental activities. The group shows no hesitation in philanthropic donations, which itself will amount to $13 million in 2014.
Calvin Klein adopts any innovation in the fashion world and encourages its members for the same. It is a very good platform to work and employees enjoys all kinds of human rights inside the company, together with a handsome salary.