Seven hundred buyers and reporters were turned away from Klein's fall 1978 fashion show; the buyers who got in placed $28 million worth of orders within 48 hours. Registration statements filed with the Securities and Exchange Commission in connection with the junk bonds Calvin Klein issued afforded the public a rare look at the finances of the closely held enterprise.
To complement Obsession, an oriental fragrance, in 1988 Calvin Klein introduced a floral scent, dubbed Eternity, which was marketed in perfume, cologne, cologne-spray, and body-cream forms. With a billion dollar price tag however, Calvin Klein was unable to find a suitable partner.
Advertisements for Calvin Klein jeans also continued to provoke controversy. Some cutbacks were noted in the bankruptcy papers. Because its prices were generally below those of its two major competitors, Ralph Lauren and Anne Klein, the firm won the loyalty of young working women as well as older, wealthier buyers. 1989: A Unilever Co. subsidiary purchases the Calvin Klein cosmetics/fragrance line. Four stores--in Manhattan, Dallas, Palm Beach and Costa Mesa, California--remained in 1997. EXHIBIT 21.1 SUBSIDIARIES OF THE WARNACO GROUP, INC. "Although these activities have substantially increased the company's net revenues and importance to the retail trade, they also have substantially increased the company's debt load.". Photographer Bruce Weber's beefcake ads featured a brawny Olympic pole vaulter in various states of well-endowed undress. In 1982, Calvin Klein entered the underwear business, once again exploiting the allure of youth in provocative poses to push the product. Alvarez began working with Warnaco in April and will be paid $175,000 a month through the end of October. After questionable behavior in March at a Knicks basketball game in New York was made public, Klein announced he was again seeking professional help for substance abuse. In 1994, Calvin Klein introduced cKone, a unisex fragrance that became another smash hit, grossing $60 million in its first three months. Designer Holdings was acquired by Warnaco in 1997. Klein commented on the process in a June 2000 DNR article, claiming that "a year ago we decided to explore strategic options for the company. For the first time the company retreated, pulling the ads, which the designer maintained had been "misunderstood.
Posters featuring a notably skinny model, Kate Moss, were festooned with stickers reading "Feed this woman" by a Boston-area group called Boycott Anorexic Marketing. He added a jeans-inspired collection that included shirts, skirts, and jackets, also licensed to Puritan. St. James Press, 2003. Since its inception, the company was a partnership between Klein and his childhood friend Barry Schwartz. In late 2002, Calvin Klein, Inc. caught the eye of Phillips-Van Heusen Corporation (PVH), a company looking to acquire a major brand. Calvin Klein introduced a khaki collection in 1996 and also licensed it to Designer Holdings, along with CK Calvin Klein Jeans Kids and CK Calvin Klein Kids Underwear, also introduced that year. Warnaco has suffered losses in four of the past five years. By 1997, only the designer's signature Calvin Klein women's collection of apparel and accessories and the CK Calvin Klein bridge collections of less-expensive women's and men's apparel (except in Europe, the Middle East, and Japan) were being manufactured by the company itself. No less than 779 fabrics were used in the European-produced collection, which ranged from neckties to suits and overcoats. Also that year, the company resumed menswear, licensing it to Gruppo GFT, an Italian manufacturer. That fiscal year (ending June 30, 1975) the firm shipped $12 million worth of merchandise, including swimsuits and dresses. Soon after, Calvin Klein was besieged by orders. The ad was eventually pulled after rumors surfaced that speculated on Klein's sexual orientation. : Business Roundtable : : US government, senate, congress. After graduating from the Fashion Institute of Technology in 1963, he worked for women's coat and suit manufacturers in Manhattan's garment district before opening his own business in 1968. The Company's products are sold under brand names, including, but not limited to, Calvin Klein, Speedo, Chaps, Warner's and Olga. Warnaco has about 100 subsidiaries in the United States and abroad. Despite sizable royalty payments from these and other products, Calvin Klein was falling into financial trouble in the new decade. It gave us the opportunity to talk to various partners and explore opportunities and take the business to the next level." The company's revenue dropped 13 percent in 1990, to $197 million, leading to a $4.3 million loss, the third time in five years the company had been in the red.
He received an unprecedented third consecutive Coty Award for women's wear in 1975 and, at age 32, was elected to the group's Hall of Fame. Combined with Obsession for Men and a line of body products, sales broke the $100 million mark by the end of 1987. Warnaco Group Inc. filed for Chapter 11 bankruptcy protection Monday as the apparel manufacturer reorganizes in an effort to remain a viable company. Warnaco has canceled leases of a Sikorsky S-76 helicopter, at $33,800 a month, and a Gulfstream IV corporate jet, at $234,800 a month.
When the company rented space in 25 New York bus shelters to display advertising posters featuring the underwear, all 25 had their glass shattered and posters stolen overnight. Calvin Klein, Inc. was restored to financial health partly through the efforts of David Geffen, the entertainment tycoon who was a long-time friend of the designer. Undeterred by suggestions that with the end of the "decadent" 1980s sex no longer sold, Klein introduced a new line of underwear, including $16 fly-button shorts, in 1992 with ads featuring Marky Mark (Mark Wahlberg), a muscular rap star. Relations became even more strained between the two companies when Wachner filed a libel suit against Klein for comments made in several speeches and on the television show Larry King Live.
Puritan returned to profitability in 1985, earning $12.4 million. By the end of its first year on the market, Eternity had grossed $35 million. 1994: A unisex fragrance, cKone, is introduced; the company's underwear business is licensed to Warnaco Group Inc. 2000: Klein files suit against Warnaco Group and its CEO Linda Wachner. The company also had an outlet store in Secaucus, New Jersey. These lines ... have the cachet that comes from the adult market." U.S. workers account for 23 percent of that number.
It blamed its troubles on a heavy debt load from acquisitions and licensing agreements and a slowing economy. Warnaco has about 100 subsidiaries in the United States and abroad. We wanted to see how we can take the company to the next step.
In a poll conducted by Louis Harris for USA Today, only 4 percent of the respondents expressed strong liking for the ads, while 57 percent said they disliked them.
The funding includes an immediate infusion of $375 million and an additional $225 million by July 9, the company said.
The company ignored the group but was unable to shrug off the reaction, especially from Christian groups, created by its summer 1995 campaign for CK Jeans, featuring models who appeared to be teenagers in states of undress that, according to one writer, "suggested auditions for low-budget porn movies." Company Country or State of Also Doing Incorporation Business As ----- 184 Benton Street Inc. …
It was followed in 1996 by cKbe, promoted in a $20 million monochrome print and TV campaign directed by Richard Avedon that featured young models exposing lots of pierced and tattooed flesh. A sexually suggestive insert for Calvin Klein Jeans in Vanity Fair in October 1991 failed to stimulate sales, prompting U.S. retailers to contend that Klein had fallen out of touch with their customers. "Over the past decade, the company has grown significantly through a series of mergers, acquisitions and other transactions," Warn- aco General Counsel Stanley Silverstein said in an affidavit filed with the court. Newly married to his second wife, Klein devised a softer $18 million promotional campaign based on the themes of spirituality, love, marriage, and commitment. Trading in Warnaco shares, which hit a 52-week low of 27 cents Friday before closing at 39 cents, was delayed yesterday before the New York Stock Exchange opening, when news of the bankruptcy filing was released. Minnetonka (14 percent owned by the Calvin Klein Sport division) was sold in 1989, with the Calvin Klein cosmetics/fragrance line fetching $376.2 million from Unilever Co.'s Chesebrough-Pond's subsidiary. In 1991, Calvin Klein introduced a new silk-scarf collection licensed to Ray Strauss Unlimited. The fragrance and cosmetics business was sold to Minnetonka, Inc. in 1980.
Both campaigns were hits.