2012 October 31
PVH Snaps Up Warnaco; Will Own Calvin Klein in Full
Mert Alas and Marcus Spiggot View Gallery
(NEW YORK) PVH Corp. is extending its slew of lifestyle brands, including the likes of Tommy and Calvin, with the upcoming acquisition of Warnaco Group, to the tune of $2.9 billion. Once the deal gets sealed in early 2013, Calvin Klein's currently disparate branded business will be united under PVH's ownership. Namely, CK's denim and skivvies businesses will now be part of the PVH family. Expect Calvin Klein president and CEO Tom Murry to be heavily involved in the process of integrating the full CK roster of branded threads.
With the addition of Warnaco, considered to be a smaller industry peer to New York-based PVH's portfolio, PVH will be one of the biggest global branded lifestyle conglomerates. Beyond CK's jeans and underpinnings businesses, Warnaco brands include Warner's, Chaps, and Olga.
PVH snapped up Calvin Klein in 2003 for $400 million; seven years later, the company, formerly known as Phillips-Van Heusen Corp., spent $3 billion to score Tommy Hilfiger. The duo of powerhouse American brands constitutes 75 percent of PVH's profits; last year, they accounted for 80 percent of PVH's revenue.
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