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Warnaco puts European business under scrutiny Tuesday, 10th July 2012
Warnaco Group Inc. today announced it is to review its European businesses with a view to restructure them in the future.
The group made the decision to put this strategy into effect “in light of challenging macroeconomic conditions in Europe”.
Warnaco’s European revenue dropped by around 13 per cent in the first quarter, while revenue fell 7 per cent overall.
The group is to give up the Calvin Klein accessories business in Europe after it failed to meet minimum sales requirements in 2010 and 2011 from CKI, the firm that licenses the Calvin Klein.
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Posted in Deals and Takeovers, fashion, Fashion News Tagged Warnaco, Calvin Klein, fashion, fashion news, deals & rumours, my, retail, media, news
