warnaco group subsidiaries

Klein introduced his first menswear collection in 1978, telling the New York Times Magazine that he approached men's clothing "with the same philosophy as the women's. The company ignored the group but was unable to shrug off the reaction, especially from Christian groups, created by its summer 1995 campaign for CK Jeans, featuring models who appeared to be teenagers in states of undress that, according to one writer, "suggested auditions for low-budget porn movies." With a billion dollar price tag however, Calvin Klein was unable to find a suitable partner. The clothing maker announced yesterday that it has secured $600 million in new financing from a group of banks led by Citigroup Inc., J. P. Morgan Chase & Co. and the Bank of Nova Scotia. Undeterred by suggestions that with the end of the "decadent" 1980s sex no longer sold, Klein introduced a new line of underwear, including $16 fly-button shorts, in 1992 with ads featuring Marky Mark (Mark Wahlberg), a muscular rap star. All rights reserved. In March 2003, Calvin Klein announced a licensing agreement with Vestimenta S.p.A. in which the Italy-based concern would manufacture and distribute the Calvin Klein Collection line. Eyewear and sunglasses bearing the designer's name, previously made by Starline Optical Corp., were licensed to Marchon Eyewear. In 1999, one-third of the company's revenues and cash flow was attributed to the sale of Calvin Klein jeans. It was followed in 1996 by cKbe, promoted in a $20 million monochrome print and TV campaign directed by Richard Avedon that featured young models exposing lots of pierced and tattooed flesh. In 2002, worldwide retail sales of Calvin Klein products surpassed $3 billion. In 1982, Calvin Klein entered the underwear business, once again exploiting the allure of youth in provocative poses to push the product. The $430 million transaction was completed in February 2003. Posters featuring a notably skinny model, Kate Moss, were festooned with stickers reading "Feed this woman" by a Boston-area group called Boycott Anorexic Marketing. "Although these activities have substantially increased the company's net revenues and importance to the retail trade, they also have substantially increased the company's debt load.". Registration statements filed with the Securities and Exchange Commission in connection with the junk bonds Calvin Klein issued afforded the public a rare look at the finances of the closely held enterprise. ... People didn't get that it's about modern young people who have an independent spirit and do the things they want to and can't be told or sold." learn how over 7,000 companies got started! NEW YORK - Warnaco Group Inc., maker of Calvin Klein jeans and underwear, Speedo swimwear and Olga bras, filed for Chapter 11 bankruptcy protection yesterday. Bonwit's gave the merchandise impressive exposure, with window displays in its flagship Fifth Avenue store and full-page ads in the New York Times. St. James Press, 2003. The company was later sued in federal court in New York by a shareholder who accused Warnaco of concealing its precarious financial condition from September 2000 to April 18, 2001. However, the lightweight, rosy perfume (at $85 an ounce) needed to anchor the collection never caught on with the public. The bankruptcy papers did not mention any plans for further layoffs among the 21,000 people who work for Warnaco worldwide. "You escape, and you do it with style." In 1994, Calvin Klein introduced cKone, a unisex fragrance that became another smash hit, grossing $60 million in its first three months. Nothing." Net profits were $41 million. The biggest lift to Calvin Klein's jeans was the television campaign directed by Richard Avedon that featured 15-year-old model/actress Brooke Shields provocatively posed in a skin-tight pair of Calvin Klein jeans. By the end of its first year on the market, Eternity had grossed $35 million. When Minnetonka launched a new perfume called Obsession--at $170 an ounce--in 1985, Calvin Klein created a heavy-breathing print and TV campaign that cost more than $17 million in ten months alone, followed by another $6 million campaign for Obsession for Men. Both campaigns were hits. Klein raised the groin in his jeans to accentuate the crotch and pulled the seam up between the buttocks to give the rear more shape. Later that year a Calvin Klein underwear ad showing a 20-year-old male model in very tight gray briefs, posed with his legs wide apart, was dropped by the company's own licensee, Warnaco. The follow-up was predictable--a line of women's underwear featuring male-style briefs and boxer shorts that retained the fly front. We wanted to see how we can take the company to the next step. Warnaco on the other hand, claimed that Klein had been fully aware of its distribution practices for years and they stood to lose millions if the suit favored Klein. EXHIBIT 21.1 SUBSIDIARIES OF THE WARNACO GROUP, INC. 1989: A Unilever Co. subsidiary purchases the Calvin Klein cosmetics/fragrance line. Escape proved a hit and was followed in 1993 by Escape for Men. TV commercials displayed a female model as the object of obsessive love by, in turn, a boy, a young man, an older man, and an older woman. We see them around but we don't know what goes on behind the scenes. The consolidated companies were renamed Calvin Klein Industries. The company's assets are $2.37 billion, according to papers filed in U.S. Bankruptcy Court in New York. Calvin Klein continued to design and create advertising for women's underwear, later adding hosiery and sleepwear lines. The fledgling company booked $1 million worth of business in its first year, reaching sales volume of $5 million by 1971. Subsidiaries of Warnaco, to the extent not listed below, considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary. Privacy Policy, Agins, Teri, and Jeffrey A. Trachtenberg, "Calvin Klein Is Facing a Bid As Magic Touch Seems To Be Slipping,", Agins, Teri, "Shaken by a Series of Business Setbacks, Calvin Klein, Inc. Is Redesigning Itself,", Chambers, Andrea, "Calvin Klein's Romantic Season,", Cowley, Susan Cheever, "Calvin Klein's Soft, Sexy Look,", Lipke, David, and Courtney Colavita, "Vestimenta: CKI's New Strategic Partner,", McQuade, Walter, "The Bruising Businessman Behind Calvin Klein,", Rozhon, Tracie, "Calvin Klein Selling His Company to Biggest Shirtmaker in the U.S.,", Ryan, Thomas J., "Calvin Won't Follow Ralph Onto the Big Board,", Steinhauer, Jennifer, "Firm Grasp of Fashion: Tenacious President Transforms Calvin Klein,". When the company rented space in 25 New York bus shelters to display advertising posters featuring the underwear, all 25 had their glass shattered and posters stolen overnight. Some cutbacks were noted in the bankruptcy papers. The company also had an outlet store in Secaucus, New Jersey. The production and sale of most of the men's clothing was licensed to Bidermann Industries. Many younger women who could not afford the designer's flagship Collection line were not buying his clothes at all. Designer Holdings was acquired by Warnaco in 1997. Most of these goods were manufactured and sold by other companies under license--licensed products account for over 90 percent of company revenue. White Stag is an in-store brand of women's clothing and accessories sold by Walmart.Founded as a skiwear manufacturer in Portland, Oregon, the company was purchased by the Warnaco Group in 1966, which in turn sold the brand to Wal-Mart in 2003. and in April 2000 the firm took itself off of the market. U.S. workers account for 23 percent of that number. Klein wheeled the rack of clothes uptown personally and won an order of $50,000 (retail) on the spot. Warnaco Group Inc /De/ – First Amendment to Employment Agreement (November 6th, 2012) This First Amendment to the employment agreement by and between The Warnaco Group, Inc., a Delaware corporation (together with its successors and assigns, the "Company"), and Karyn Hillman (the "Executive"), dated as of March 15, 2012 (the "Agreement") is made and entered into on the date … The ad was eventually pulled after rumors surfaced that speculated on Klein's sexual orientation. "Also at the point the children are over eight, they're pretty much deciding what they want to wear. In 1999, an underwear billboard in Times Square featuring two scantily clad young boys launched yet another round of controversy. The Warnaco Group, Inc. ("Warnaco"), a Delaware corporation organized in 1986 (collectively with its subsidiaries, the "Company"), believes it is one of the world's leading apparel companies. Warnaco also won the license for a new venture, men's accessories. Company revenues rose to $40 million in fiscal 1976 and a startling $90 million in 1977. 2003: Calvin Klein is acquired by Phillips-Van Heusen Corporation. Four stores--in Manhattan, Dallas, Palm Beach and Costa Mesa, California--remained in 1997. Of the company's $260 million in sales in 1996, $141 million came from its in-house products and $119 million from royalties and designer income. Calvin Klein merchandise was so hot that the company could pick and choose among stores that wanted to carry the company's products and blackball those that dared to try to return unsold goods. "After work you get away," Klein explained regarding the concept. Principal Competitors: Donna Karan International Inc.; Polo Ralph Lauren Corporation; Tommy Hilfiger Corporation. The other subsidiaries are not involved in the bankruptcy proceeding. Warnaco has suffered losses in four of the past five years. rating action: moody's investors service lowers ratings of the warnaco group, inc. and its related subsidiaries: senior implied to b1 from ba2. CK Calvin Klein Jeans continued to be one of the strongest sellers among youths. The magazine and television advertisements in question featured gaunt, glassy-eyed models to promote cKbe. rating action: moody's lowers senior unsecured ratings of warnaco group, inc. …

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