NEW YORK — Phillips-Van Heusen is moving forward in its bid to win the Calvin Klein brands, according to sources who said over the weekend that talks have resumed between the two companies.
Market reports indicated that PVH was edged out by VF Corp. in the first round of bids for the designer business as well as Warnaco Group’s Calvin Klein jeans and underwear brands last week, but after VF’s deal reportedly fell apart, PVH was said to be ready to try again. Several sources in New York and Paris have said that PVH is working with the investment firm Apax Partners to finance an acquisition of Calvin Klein Inc. or the Warnaco brands.
However, a Warnaco spokesman said last week that the company, still in bankruptcy proceedings, is sticking with its previously reported plan of reorganization that is supported by holders of its bank debt. If the company does complete that process, expected sometime in mid-January, Warnaco could possibly then entertain more lucrative bids for those brands or the entire company.
While Calvin Klein Inc. was put up for sale three years ago with an asking price of $1 billion, current suitors are said to be offering in the range of $650 million to $800 million, considering the impact on the sales and positioning of the jeans and underwear product of Warnaco’s bankruptcy proceedings, as well as decreased sales of Calvin Klein fragrances, licensed to Unilever Cosmetics International (UCI). As reported, those brands are also said to be up for sale.
Donatella Versace will receive the International Award at the 2018 @cfda awards, which were announced tonight. Tap link in bio for a list of all the nominees and honorees. #wwdnews #wwdfashion (📷: @rahirezvanistudio )
The 2018 @cfda Awards nominees are out! @virgilabloh for @off____white for is nominated for Womenswear Designer of the Year. Tap link in bio for all the nominees. #wwdnews #wwdfashion ( 📷: @simonelezzi)
@chanelofficial is suing high-end vintage retailer @whatgoesaroundnyc for trademark infringement, a move that could cost the retailer millions. The French fashion house claims that it’s not only unintentionally sold counterfeit goods on occasion, but that it’s “gone out of its way to create an association with Chanel,” which does not exist. Read Chanel’s statement on WWD.com #wwdnews (@aitorrosasphoto)
Exclusive: Guillaume Henry has left @ninaricci, the fashion house said on Thursday. “After three years of mutually gratifying creative collaboration, Nina Ricci and Guillaume Henry have together decided that the designer will depart the house after the presentation of the fall-winter 2018-19 collection,” Ricci said in a statement. Get all the details on WWD.com #wwdfashion (📷: @aitorrosasphoto)
“When Bella enters a room all heads turn,” said @peterphilipsmakeup, creative and image director for @diormakeup. Last night, the two celebrated the product launch of Dior’s Lacquer Plump in Los Angeles with other celebs like @parisjackson, @winnieharlow and more. Head to WWD.com to see the rest of the photos from the night (📷: @chelsealaurenla) #wwdeye
“These shirts are an art form, it’s about getting the message out to as many people as you can. It breaks down the pretentiousness of the art gallery,” says Kumasi Sadiki, cofounder of @ebayontheblock, a store that sells merchandise by New York artists who are shifting their attention to clothes as a wearable medium. Pictured here is a design by artist @joegarvey_, one of the first to spearhead this movement. Head to WWD.com to read @mistywhitesidell full story on how their designs have become merch for the underground elite #wwdfashion
@netaporter is dedicating a part of its website – called the Fine Jewelry and Watch Destination – to highlight its high-end jewelry. The hub will feature products on the site, as well as incorporate styling advice and educational content about high-priced jewelry items. Get more details on WWD.com. #wwdaccessories
For “The Cher Show,” an upcoming musical based on @cher’s life and career, @bobmackie is once again collaborating with the singer in designing the costumes. For decades, Mackie has designed glitzy stage costumes and red carpet looks for the 71-year-old Grammy winner. Pictured here is a sketch of some of the pieces in the wardrobe of the musical, which is set to debut in Chicago on June 12 before making its way to Broadway #wwdeye