CALVIN KLEIN, SMH JOIN FOR WATCHES

NEW YORK — Calvin Klein Inc. is joining with Swiss watchmaker SMH to make an entry into the watch business.
SMH has created a new company, CK Watches SA, to produce and distribute two lines — Calvin Klein Collection and CK Calvin Klein, both of which will be introduced for fall retailing.
SMH will hold 90 percent of the company, while Calvin Klein Inc. will hold 10 percent. The new firm will be based at SMH’s headquarters in Biel, Switzerland.
The SMH group comprises 14 companies. They include such names as Swatch, Omega and Flik Flak, as well as the new CK Watches.
Nicholas Hayek Sr., chairman and chief executive officer of SMH, said planning for the watch lines is just beginning and details on price and styles are not yet available.
The Calvin Klein Collection line will have limited distribution as a prestige watch and will sell for substantially more than the CK watches.
The Collection watches will be sold in Calvin Klein Collection freestanding stores and in specialist jewelers, according to a Klein spokesman. The CK line will target the more fashion-forward customer in style and in price. It will be in CK Calvin Klein freestanding stores and in better department stores and specialty retailers.
Hayek said samples may be ready for a press preview in about four months.

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