Calvin Klein outlines strategic changes, including digital first approach
Steve Shiffman, chief executive officer of Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp., unveiled a series of strategic changes to the company in response to the rapidly evolving fashion and retail landscape. The brand's strategy includes three key initiatives: The brand is relaunching the CALVIN KLEIN 205W39NYC business under a new name, design approach and creative direction. The new business will focus on connecting directly to all of the other CALVIN KLEIN brands and amplifying each category with unique products and aspirational experiences. The relaunched business will be designed to evolve the traditional luxury fashion model by connecting with a diverse range of communities, offering an unexpected mix of influences and moving at an accelerated pace. As a result of Calvin Klein, Inc.'s ongoing assessment of its omnichannel strategy, the 654 Madison Avenue store will be closing in spring 2019. The company is evaluating options for future retail locations, and will also be unveiling new consumer experiences both online and offline. The Calvin Klein, Inc. leadership team has adopted a digital-first approach and introduced a newly formed "Consumer Marketing Organization." The CMO is evolving to accommodate the rapidly changing demands of today's consumers, with highly specialized teams focused on new areas including Consumer Engagement and Shopper Experience. The business will be streamlining its North America division to become a more effective organization, including consolidation of operations for the men's Calvin Klein Sportswear and Calvin Klein Jeans business as a means of further strengthening the brand's positioning. The Calvin Klein retail and ecommerce teams will be integrated to create an omnichannel approach mirroring how consumers browse, shop and purchase today. "These strategic initiatives will enable us to run a more modern, dynamic and effective business, as well as allow us to reinvest in the brand," said Shiffman.