Swatch Group to drop Calvin Klein license agreement
The Swiss group has said the decision has been taken due to “the recent turbulence and uncertainties at the management level of Calvin Klein”.
Swatch breaks up with Calvin Klein. After more than 22 years of exclusive licensing collaboration, Swatch Group has decided to let the licensing agreement with Calvin Klein end at its date of expiration, the company has said in a statement. The group said that date is “in the near future”, without giving more details.
The Swiss watch retailer states that “the decision has been taken due to the recent turbulence and uncertainties at the management level of Calvin Klein”. Swatch operates with 18 different brands ranging from high-end Breguet to mass market Swatch. Calvin Klein is owned by PVH.
Swatch is the world’s largest watchmaking group, with revenues of CHF 8.5 billion (US$ 8.6 billion) last year, up 5.7% year-on-year. The company also operates the retail companies Tourbillon and Hour Passion.
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