American fashion giant Calvin Klein might be reportedly shutting down its ready-to-wear business that is expected to be a huge blow to the brand. Chief Creative Officer Raf Simons parted ways from Calvin Klein last December and also skipped the season of New York Fashion Week. With all the happenings it seems like the fashion brand might soon get rid of its runway collection for good.
Reports say that the fashion giant will be bringing down the Calvin Klein Collection label which was known as the CalvinKlein205W39NYC under Simons in 2017. After the decision to shut down the ready-to-wear line, the company is laying off the employees who worked for the runway collection and included 50 employees in its New York Office and 50 in its Milan Office. The brand is also shutting down its Milan office altogether.
But the closure does not stop there as the company in January had revealed its plans to close its flagship store at 654 Madison Avenue. Moreover, Michelle Kessler-Sanders , the President of Calvin Klein 205W39NYC is all set to leave the company but is expected to stay till June 2019. The American brand first started showing off at the New York Fashion Week in 1994 and had instantly become popular for their cool and minimalistic designs and denim that helps to shape the 90s fashion.
The fashion house was established in 1968 and specializes in leather, lifestyle accessories, perfumery, jewellery, watches as well as home furnishings. The company was found by Calvin Klein and his childhood friend Barry K Schwartz. The headquarters of the company is based in Midtown Manhattan, New York City. The company has a substantial market share in retail as well as commercial lines along with haute couture garments. It has been 51 years since the company has established and continues to have a good market share and a customer base.
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