Calvin Klein buying back European licenses
(Reuters) - PVH Corp's (PVH.N) Calvin Klein unit is reacquiring licenses held by Warnaco Group Inc WRC.N so it can further build up the brand in Europe starting in 2013.
PVH, which also owns the Tommy Hilfiger brand, said in a statement on Monday that its European infrastructure would help develop the Calvin Klein brand there, and that ck Calvin Klein's European business could reach sales of $500 million within five to seven years.
The licenses held by Warnaco cover the distribution and sale of ck Calvin Klein clothing and accessories in Europe as well as the operation of retail stores there.
(Reporting By Phil Wahba; Editing by Gerald E. McCormick)
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