BOC: Four Well Known Brands 2

 

“It’s one of the most recognized fashion brands in the world and—with more than $5 billion in annual sales—also one of the most profitable.”  http://nymag.com/fashion/fashionshows/designers/bios/calvinklein/  What brand is that?  Calvin Klein of course!

Calvin Klein, whom rightfully deserves the title of a legend, was born on November 19 in 1942 in the Bronx, New York.  The very place that he lived in what inspired Klein to set out to launch his own clothing company.

1968 was the year Calvin Klein started his company.  An accidental but amazing thing occurred.  “…a buyer from the now-defunct high-end department store Bonwit Teller accidentally stumbled into his workroom in 1969 after getting off on the wrong floor; within a week, Klein had his first $50,000 order.”  http://nymag.com/fashion/fashionshows/designers/bios/calvinklein/  By the time the 80’s rolled around, Klein was a well known fashion brand for minimalist fashions.  His marketing and advertising campaigns were just as well known as his clothing.  The company went from $24,000 to $7.3 million in only 10 years of business.

 

Ask almost anyone what they know about Calvin Klein and they will say they remember the ever popular, and ever provocative, “You wanna know what comes between me and my Calvins? Nothing.”  According to Newsweek, that phrase increased Klein’s revenue by 300% in just 3 months.  “…Consumers responded to this ad and began scavenging through major department stores in search of Calvin Klein designer jeans.”  “He had created mass hysteria over denim and generated emotional responses in consumers across the nation.”   Brand Story by Joseph Hancock page 29  It’s unfathomable how emotionally involved consumers can be in a simple ad for jeans.  Calvin Klein put designer jeans on the map and started a revolution.  Calvin Klein jeans cost around thirty-five dollars when first produced in the 80s.  Today the average retail price of the ever famous Calvins are seventy dollars.

Today, Calvin Klein’s brands include Calvin Klein Collection, cK Calvin Klein, Calvin Klein, Calvin Klein Sport, Calvin Klein Jeans, Calvin Klein Home, The Khaki Collection, Calvin Klein Golf, Calvin Klein Underwear, cK One Lifestyle Brand, Calvin Klein Watches and Jewelry.

“…in 2002 Calvin Klein Inc. was… sold to Phillips Van Heusen Corp. for approximately $400 million in cash, $30 million in stock. Furthermore, the royalties and licensing rights linked to the turnover over the next 15 years were estimated at $200 to $300 million.”  http://www.luxtex.net/calvin_klein.html  Van Heusen’s Brazilian protégé, Francisco Costa, was appointed creative director of women’s.  “Today, Costa is the label’s most visible face, and his collections have been well received by both critics and the industry.”  ://nymag.com/fashion/fashionshows/designers/bios/calvinklein/