The 137-year old apparel business empire, PVH, became the parent company of the iconic American fashion house that is Calvin Klein back in 2002, since then the two have had their ups and downs however after recent comments it looks like they may be in their most troubling times yet.
Although it doesn’t look like anything that could put an end to the brand anytime soon, it appears that the CEO of PVH Corp has something to say as for why Calvin Klein’s third-quarter earnings fell to $121 million, from $142 million a year earlier. Specifically, Emanuel Chirico stated that: “We went too far, too fast on both fashion and price,” adding ”We’re working on fixing this fashion miss, and we believe that our CK Jeans offering will be much more commercial and fashion-right beginning in 2019.”
This is particularly troubling as it wasn’t long ago that the brand looked to the Belgian fashion designer, Raf Simmons, in order to energise the luxury house’s offerings, instead it seems that the Simmons-designed offshoot brand has failed to attract luxury-fashion buyers and consequently has led to one statement from PVH that read: “We are disappointed by the lack of return on our investments in our Calvin Klein 205W39NYC halo business,” adding that they are planning on cutting “investments in [Simons’] runway collection, as marketing budgets shift to influencers and more approachable messaging.” I guess we will have to wait and see how to the brand performs from here.
