Fingen S.p.A. to Take Control of License Previously Held by Vestimenta S.p.A.
Calvin Klein, Inc., a wholly owned subsidiary of Phillips-Van Heusen Corporation, today announced that it has entered into an agreement with Fingen S.p.A. to assume responsibility for the manufacture and distribution of the Calvin Klein Collection brand women's and men's designer collection apparel and accessories on a worldwide basis. Fingen S.p.A. is controlled by the Fratini family and the parent of the licensees for Calvin Klein Jeanswear in Europe and Asia and ck Calvin Klein bridge apparel in Europe. Fingen also currently produces Jean Gaultier Apparel.
Fingen will be responsible for the license effective immediately, beginning with the production of merchandise for the Spring 2006 season. The license was until now held by Vestimenta S.p.A., which as recently reported in the press, is in bankruptcy and in the process of divesting itself of its apparel businesses.
Under the terms of the arrangement, Calvin Klein, Inc. will retain control over design, marketing, advertising, and public relations, as well as final control over distribution. Fingen will acquire existing manufacturing facilities and retain key operating personnel from the prior licensee and will partner those assets with a talented new management team.
Fingen's immediate focus will be to make any necessary improvements to ensure that the highest quality is achieved for the Collection. This review includes assembling a talented and experienced team – from patternmakers, sewers, cutters, up through management.
The Calvin Klein Collection business will be headed by Fabio Fusco. Mr. Fusco most recently served as the Chairman & CEO of several companies within IT Holding S.p.A., where he oversaw the development of D&G, Just Cavalli, Versace Jeans, Gianfranco Ferre, and other brands managed by the group within the Asia/Pacific region, and later assumed responsibility for the Gianfranco Ferre business worldwide. Mr. Fusco also served as the CEO of CK Jeanswear Europe S.p.A. and Calvin Klein Jeanswear Asia Ltd., licensed divisions of Fingen S.p.A., from July 1995 to March 2000, and continues to have a long, positive relationship with the Fratini family and Calvin Klein, Inc.
Sales and marketing for Calvin Klein Collection will continue to be headed by Simone Mantura, General Manager/Sales and Marketing, while Fausto Lazzaretti will join the company as Sales Director. Mr. Lazzaretti previously served as the Sales Director for Cerruti, and for Giorgio Armani.
Design of the Calvin Klein Collection apparel and accessories will continue to be overseen by the respective in-house design teams, led by:
– Francisco Costa, Creative Director – Calvin Klein Collection for women
– Italo Zucchelli, Design Director – Calvin Klein Collection for men
– Ulrich Grimm, Design Director – Shoes & Accessories
“After careful deliberation, Fingen has impressed us with their considerable expertise and their excellent execution with their established businesses, both licensed and owned. We have an excellent long-standing relationship with Fingen, spanning more than a decade. We are confident in their ability to execute our Collection business at the necessary quality levels and efficiencies with Fabio Fusco at the helm. We feel strongly that Fingen is a strong partner for our continued efforts to grow and develop the Calvin Klein Collection globally,” said Tom Murry, President & Chief Operating Officer, Calvin Klein, Inc. Murry continued, “The reactions from editors and retailers to both of our men's and women's Spring 2006 runway presentations have been extremely positive and we anticipate that these collections will also be well received at retail.”
“We are happy and proud to strengthen our business relationship with Calvin Klein, Inc., as we further our successful collaboration with them by assuming the license for the prestigious Calvin Klein Collection,” said Corrado Fratini, President of Fingen S.p.A.
“This partnership furthers the strong relationship and trust between our companies, and creates great opportunities for further synergy and growth for both organizations,” said Marcello Fratini, Shareholder, Fingen S.p.A.
Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women's and men's designer collection apparel and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. Brands/lifestyles include Calvin Klein Collection, ck Calvin Klein, Calvin Klein, Calvin Klein Jeans and Choice Calvin Klein. Product lines under the various Calvin Klein brands include apparel, accessories, shoes, underwear, sleepwear, hosiery, socks, swimwear, eyewear, watches, jewelry, coats, and fragrances, as well as products for the home.
Phillips-Van Heusen Corporation is one of the world's largest apparel companies. It owns and markets the Calvin Klein brand worldwide. It is the world's largest shirt company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, Arrow, and G.H. Bass & Co., and its licensed brands Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean Jean, Chaps, and Donald J. Trump Signature Collection.