Today PVH, the large US conglomerate that owns Calvin Klein, Tommy Hilfiger, and Izod (among others) announced it was acquiring Waranco, the large US lingerie manufacturer that makes Calvin Klein undies and jeans, among others, in a deal valued at $2.9 billion.
The acquisition was approved by both boards, and will officially make PVH one of the mega-corps, with revenues of about $8 billion. As important, however, is the fact that by buying Warnaco, PVH is also buying Calvin Klein’s two biggest product categories, which had been licensed to the manufacturer since the late 1990s.
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