PVH has high hopes for Calvin Klein with Raf Simons as Chief Creative Officer
During PVH's second quarter financial call to investors, Manny Chirico, CEO of PVH, talked about the company's new marketing strategy, which will shift away from focusing on Calvin Klein Jeans and Underwear towards emphasizing the label as a lifestyle brand beginning in 2017.
CEO of Calvin Klein Steve Shiffman also discussed the brand's new strategy, saying: “The arrival of Raf Simons as Chief Creative Officer signifies a momentous new chapter for Calvin Klein. Not since Mr. Klein himself was at the company has it been led by one creative visionary, and I am confident that this decision will drive the Calvin Klein brand and have a significant impact on its future. Raf’s exceptional contributions have shaped and modernized fashion as we see it today and, under his direction, Calvin Klein will further solidify its position as a leading global lifestyle brand.”
Raf Simons, who works in the minimalist spirit of Calvin Klein, will influence all lines of the brand. Executives have not ruled out resuming select product licenses.
An approach which must also support the development of business in Europe. Here, the jeans and underwear are the strongest categories for Calvin Klein. For two years, the group has been working to redress these activities. The arrival of a designer to high European culture and highlighting the brand's lifestyle also appear designed to also appeal to European consumers.
PVH has reported solid performance in Europe. According to Chirico, though, Europe is the only region globally in which Tommy Hilfiger earns three times the revenue of Calvin Klein.
With Raf Simons at the creative helm, Calvin Klein has the potential to make a come-back in the United States and resume its reputation as one of the most nfluential brands.
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