NEW YORK -- The $64 million deal between the Warnaco Group and Calvin Klein Inc. is expected to close today.
Under the deal, Warnaco will acquire Klein's men's underwear business and license the trademarks for men's accessories worldwide. Warnaco also will acquire the global trademarks for women's innerwear when the U.S. license expires at year's end.
Linda J. Wachner, president, chairman and chief executive officer of Warnaco, said Friday that the women's innerwear will be incorporated within the Calvin Klein showroom for men's underwear located at the Calvin Klein offices here at 205 West 39th St.
Wachner said that John Kourakos, president of the Calvin Klein men's underwear division, will add the women's innerwear business to his responsibilities.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"