Swatch ends Calvin Klein Swiss watch licence as contract expires
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Calvin Klein watches sell for CHF 150 to CHF 300 and lower-priced timepieces have suffered lately with competition from smartwatches and fashion watches from brands like Michael Kors or Fossil.
WEDNESDAY 23, OCTOBER 2019
Swiss watchmaker Swatch Group said that it will let a licencing agreement with Calvin Klein expire after more than two decades, reported Bloomberg.
Omega timepieces stated that the recent turbulence at Calvin Klein’s management led to the decision to end the alliance.
PVH Corporation, the owner of Calvin Klein, appointed Cheryl Abel-Hodges as the new Chief Executive Officer of the brand earlier this year. Analysts said that Swatch’s decision probably also stemmed from the weakness in the market for low-end watches.
Many traditional retail channels are disappearing as shopping malls struggle.
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