NEW YORK — Calvin Klein Inc. said Monday it has signed an agreement with Fingen SpA to produce and distribute Calvin Klein Collection women's and men's apparel and accessories worldwide.
The deal confirms a page one story in WWD on Friday.
Fingen is taking over the license from Vestimenta, which has filed for bankruptcy and is looking to exit the apparel business. Privately owned by brothers Corrado and Marcello Fratini, Fingen is also the parent of the Calvin Klein Jeanswear licensee in Europe and Asia and the ck Calvin Klein bridge apparel licensee in Europe.
The deal between Calvin Klein and the Florence-based Fingen will begin with spring product, including the much-praised women's wear collection that Francisco Costa, creative director of Calvin Klein Collection for women, presented during fashion week here last month.
The change in licensees will not affect the creative team: Costa will remain creative director of Calvin Klein Collection for women; Italo Zucchelli, design director for Calvin Klein Collection for men, and Ulrich Grimm, design director for shoes and accessories.
As part of the agreement, Fingen is taking over Vestimenta's existing manufacturing facilities and keeping key staff. It will also assemble a team of pattern-makers, sewers, cutters and top management. CKI maintains control over design, as well as marketing, advertising and public relations. It also has the final say over distribution.
Fabio Fusco will head up the Calvin Klein Collection business at Fingen. Fusco joins from IT Holding SpA, where he was chairman and chief executive officer for several of IT's divisions. At IT, he headed the growth of Versace Jeans, Gianfranco Ferré, D&G, Just Cavalli and several other brands in the Asia-Pacific region. At one point, he also oversaw the global Ferré business. Fusco knows CKI and Fingen well: From 1995 to 2000, he was ceo of CK Jeanswear Europe SpA and Calvin Klein Jeanswear Asia Ltd., both licenses of Fingen.
"Fabio Fusco has strong designer experience at IT Holding, and I have a lot of confidence in him. He has the expertise and a solid track record," said Tom Murry, CKI's president and chief operating officer.
Murry added that while Vestimenta had strong product development and manufacturing capabilities, the problem was the funding, and in the number of people that were dedicated to the Collection business. Fusco will focus on Collection exclusively. Simone Mantura will continue as general manager of sales and marketing at Calvin Klein Collection, and Fausto Lazzaretti will join as sales director. Prior to this, Lazzaretti was a sales director for Cerruti and Giorgio Armani."We will retain the best of the best there, and we will add to the organization," Murry said. "With Fusco's management and leadership, we are convinced that we can start to grow this business. The next step is to improve on execution, and to deliver a quality product on time. That's our primary focus."
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