NEW YORK — Sitting in the front row at Calvin Klein’s women’s wear show in February, Bruce Klatsky, chairman and chief executive officer of Phillips-Van Heusen, could barely disguise his glee at sewing up the deal to buy the design house for $430 million.

But the news last weekend that Klein has sought professional help once again for substance abuse most likely wiped the smile right off of Klatsky’s face.

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