Calvin Klein
Calvin Klein Inc. is an American fashion brand founded in 1968 by Calvin Klein.
Calvin Klein, Inc., designs, licenses, and, in some cases, produces clothing, accessories, fragrances, and home furnishings bearing the name of designer Calvin Klein. Since its inception, the company was a partnership between Klein and his childhood friend Barry Schwartz. Named by Time magazine in 1996 as one of the 25 most influential Americans, Klein made his impact not only by designing but also by marketing his wares through high visibility and often controversial advertisements created by the company's in-house agency, CRK Advertising. In 2002, worldwide retail sales of Calvin Klein products surpassed $3 billion. Most of these goods were manufactured and sold by other companies under license--licensed products account for over 90 percent of company revenue. After three years of shopping around for a buyer, Schwartz and Klein inked a deal with Phillips-Van Heusen Corporation, the largest shirt maker in the United States. The $430 million transaction was completed in February 2003.
