Calvin Klein Sales Improved Following Raf Simons' Departure

It’s a good first step,” says parent company CEO.

Fashion
27,189 Hypes 33 Comments

Calvin Klein‘s fortunes appear to be turning despite recent hardships. In an interview with WWD, the chairman and chief executive of Calvin Klein parent company PVH Corp., Emanuel Chirico, described the company’s fourth quarter earnings to be a “marked improvement” over past sales reports.

A shaky third quarter encouraged PVH Corp to part ways with designer Raf Simons and engage in a wide-ranging rebrand, which included a return to the brand’s sexually-charged roots for the Spring 2019 campaign. The dramatic shake-up seems to have payed off internally, though Calvin Klein’s fourth quarter earnings were relatively underwhelming.

“We’re especially pleased with the initial results coming out of Calvin Klein….It’s a good first step,” Chirico said. “The best response that we’ve seen so far is the new spring campaign with Shawn Mendes. The reaction from the consumer seems to be back to where our marketing and advertising consistently has been in the past. … When you make a mistake, make it quickly and move on. I think that’s what we really tried to do, so I think we’ve laid out all the strategic initiatives that are in place.”

Sales for Calvin Klein slipped by 2 percent down to $953 million USD, explained by Chirico as an unfair comparison due to an additional 53rd week in the 2017 numbers. Perhaps the best-performing brand in PVH’s stable, Tommy Hilfiger increased its quarterly sales by 2 percent, up to $1.2 billion USD. “It’s not necessarily a sales issue that we’ve had some challenges with,” offered Chirico.

“In our own business, it impacted us more financially, particularly in the third quarter it was our margins where the product just wasn’t making the right connections and, in order to move through it quickly, we had to make the markdowns and get new product on the floor. We saw a much healthier business in the fourth quarter. We think that is a good sign as we go into the first half of the year.”

Currently, PVH shares are up almost 10 percent to $121.65 USD apiece.

We recently took a look at a suspiciously familiar-looking CALVIN KLEIN JEANS sneaker design.

Read Full Article
Source
WWD

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

403 Users Online

What to Read Next

The Luxe Details Behind Singapore Changi, "World's Best Airport" For Seven Straight Years
Travel

The Luxe Details Behind Singapore Changi, "World's Best Airport" For Seven Straight Years

Its Jewel complex opening next month will further bolster its luxurious offering.

Here's How Fans Styled the Supreme x The North Face SS19 Collaboration
Fashion

Here's How Fans Styled the Supreme x The North Face SS19 Collaboration

Arc logos everywhere.

Bode Debuts Handmade SS19 Exclusives for MATCHESFASHION.COM
Fashion

Bode Debuts Handmade SS19 Exclusives for MATCHESFASHION.COM

Lush patchwork and jaw-dropping embroidery.


Rucci Delivers a Sequel to an 'El Perro' Favorite on "Wishin On A Star Pt. 2"
Music

Rucci Delivers a Sequel to an 'El Perro' Favorite on "Wishin On A Star Pt. 2"

A flip of a well-known Selena sample.

Dapper Dan Will Present Pyer Moss With 2019's Pratt Fashion Visionary Award
Fashion

Dapper Dan Will Present Pyer Moss With 2019's Pratt Fashion Visionary Award

A major accomplishment for the young designer.

Amazon Fashion Week Tokyo FW19 Street Style Offered Organized Chaos
Fashion 

Amazon Fashion Week Tokyo FW19 Street Style Offered Organized Chaos

The Japanese capital was dominated by dynamic, deconstructed style.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.