Warnaco Group History
Earlier company descriptions, brand line-ups, store counts and photographs from the history of Warnaco Group, kept for historical reference.
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The Company Description of Its Time
Warnaco's history dates back to 1874. The first company designed, manufactured and sold Warner's corsets to retailers. Since then, Warnaco evolved into a global apparel leader which designed, sourced, marketed, licensed and distributed a broad line of intimate apparel, sportswear and swimwear worldwide, under brand names including Calvin Klein, Speedo, Chaps, Warner's and Olga.
February 13, 2013: PVH Completes the Acquisition
On February 13, 2013, PVH Corp. (NYSE: PVH) announced it had completed its acquisition of The Warnaco Group, Inc., making it one of the largest global branded lifestyle apparel companies in the world, with a diversified portfolio of iconic brands led by Calvin Klein and Tommy Hilfiger, as well as its heritage brands - Van Heusen, IZOD, ARROW, Bass, Speedo, Olga and Warner's - and over $8 billion in pro forma revenue. PVH also closed on its previously disclosed new senior secured credit facilities to fund the transaction.
The October 2013 summary that followed described the combined company this way: PVH, one of the world's largest apparel companies with over $8.0 billion in estimated 2013 revenues, owned and marketed a diversified portfolio of iconic designer lifestyle apparel brands led by Calvin Klein and Tommy Hilfiger, which together represented close to 85% of operating profits. It was also the world's largest shirt and neckwear company, and through its Heritage Brands division designed, sourced and marketed prominent brand label dress shirts, neckwear, sportswear, footwear, swimwear and intimates.
The 2011 Company Summary
The 2011 summary described Warnaco at its independent peak: The Warnaco Group, Inc., along with its subsidiaries, designed, sourced, marketed, licensed and distributed a range of intimate apparel, sportswear and swimwear products worldwide, sold under brand names including Calvin Klein, Speedo, Chaps, Warner's and Olga. The company operated in three segments: the Sportswear Group, the Intimate Apparel Group and the Swimwear Group.
As of December 31, 2011, the company operated 1,759 Calvin Klein retail stores worldwide - 263 full-price free-standing stores, 118 outlet free-standing stores, 1,376 shop-in-shop and concession stores and, in the United States, two online stores, Calvinkleinjeans.com and CKU.com - plus one online swimwear store, SpeedoUSA.com. A further 615 Calvin Klein retail stores were operated by third parties under retail licenses or franchise and distributor agreements.
Brand Highlights of the Record
Calvin Klein Underwear: since its inception, Calvin Klein Underwear for men and women led its market by offering consumers cutting-edge design, innovative fabrics, and exceptional fit and quality, known for iconic advertising campaigns featuring top models, celebrities and newly discovered talent. The trademarks Warnaco owned or licensed in perpetuity generated approximately 45% of the company's revenues during fiscal 2008; brand names licensed for a term generated approximately 55%; and owned brand names plus brand names licensed for extended periods - at least through 2044 - accounted for over 88% of fiscal 2008 net revenues.
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