PVH Corp.-owned Calvin Klein today (January 10, 2019) detailed plans for restructuring the brand, following news of designer Raf Simons departure in December 2018. The brand’s first step will be to relaunch the Simons-founded 205W39NYC label under a new name, design approach and creative direction. As part of the relaunch, the label’s 654 Madison Avenue store will close sometime in spring 2019.
While celebrated in the fashion community because of its association with the widely-admired Simons, PVH Corp ultimately viewed 205W39NYC as a money pit that proved to be ineffective in creating a halo over Calvin Klein’s other, lower-priced brands.
According to press, the newly-formed label will be more directly connected to all Calvin Klein brands with a goal of “amplifying each category with unique products and aspirational experiences.”
In the press release, Calvin Klein CEO Steven Shiff referenced a need to adjust to a fast-changing retail environment. Said, Shiffman, “Our industry is witnessing a historic transformation in consumer behavior which presents a significant growth opportunity as we look to grow the brand to $12 billion in global retail sales over the next few years. Now more than ever, we must double down on meeting consumer demands by creating culturally relevant products and experiences that engage communities by pushing fashion and culture forward.”
Reflecting the chain in consumer behavior, the brand will put an emphasis on a “digital first” approach. At the same time, Calvin Klein’s North America will be “streamlined,” which translates to consolidation of operations for the men’s Calvin Klein Sportswear and Calvin Klein Jeans business.
