NEW YORK -- In the latest in a series of major corporate moves, Calvin Klein Inc. has reportedly signed a licensing deal with Home Innovations Inc. for an extensive home furnishings line.
The deal is said to involve a vast selection of merchandise, including furniture, tabletop, sheets, towels, silverware, glassware, dinnerware, gift and accessory products.
The Calvin Klein Home line will make its debut for fall 1995, and it will be featured in shops in department and specialty stores, sources said.
Neither Klein nor Home Innovations officials could be reached for comment.
This deal is one of the many recent licensing and expansion developments for Klein.
In March, the designer sold his men's underwear business to The Warnaco Group, which also licensed the trademarks for men's accessories worldwide. Warnaco will also acquire the worldwide rights to Klein's name for women's innerwear when the United States license for that business expires at the end of the year.
The deal for the men's underwear and accessories was worth some $62.5 million, plus additional royalty payments.
Another potential blockbuster for Klein is the pending sale of his CK Calvin Klein jeans to Fruit of the Loom.
Sources estimate that Klein's licensing income -- independent of the new home license -- will be $45 million to $50 million in 1994, up from $35 million to $36 million.
Klein's biggest money maker is his fragrance business, licensed to Unilever Ltd., which does more than $400 million at wholesale worldwide.
As reported, Klein is planning to continue operating his Collection business as an ongoing concern and as an image-builder while spinning off the remainder of his businesses into licensing ventures.
Klein has also put in motion various international expansion plans, including the Far East and Europe. As reported, in a key strategic move, Klein recently hired former Giorgio Armani executive vice president Gabriella Forte to spearhead the growth in the international arena.
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