Calvin Klein announced Thursday plans to take back the existing license agreement held by CK21 Holdings Pte. Ltd. for all production and sale of Calvin Klein platinum label for men’s and women’s accessories.
The agreement includes sale in free-standing Calvin Klein platinum accessories stores in China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, Philippines, Indonesia, Australia, New Zealand and South Korea.
Additionally, the Calvin Klein Asia business will acquire some of CK21’s free-standing Calvin Klein Accessories stores and shop-in-shops. The company will assume production of men’s and women’s accessories for sale at free-standing Calvin Klein platinum label apparel stores and shop-in-shops in Australia, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Thailand, as well.
In a statement, Calvin Klein CEO Steve Shiffman, said, “We are excited about the long term opportunity presented by taking back this business, as it allows us to better optimize the synergies of the Calvin Klein platinum label accessories business together with our broader accessories business, under the creative direction of Ulrich Grimm, Global Creative Director of Shoes and Accessories for Calvin Klein.”
He added, “The development also aligns with our strategy to further enhance the Calvin Klein brand in the region by leveraging our Calvin Klein Asia Pacific infrastructure. CK21 continues to be a strong partner for us with Calvin Klein platinum apparel and we look forward to continuing our relationship.”