Calvin Klein, the $ 5.4 billion US designer wear company, is gearing up for introducing its all brands in India's retail scenario
Calvin Klein, the $ 5.4 billion US designer wear company, is gearing up for introducing its all brands in India’s retail scenario. Calvin Klein already entered the Indian market with its underwear line and jeans. While speaking on the launching of its formal wear ranges – Calvin Klein Collections and Calvin Klein Bridge – Oliver Kaye, Business Head of Calvin Klein, states, “We do not think the market is evolved enough for these two formalwear brands at present, but we are going to be watching the India rollout of other brands like Emporio Armani, which we consider our closest competitor, and in the next two-three years both the brands should be here.” Calvin Klein Collection is the company`s ultra-formal, luxury brand which starts at $300 for a shirt, rising to $5,000 for a suit. Bridge, also a formalwear brand, is priced slightly lower. While explaining the company’s increasing business interest in India, Kaye comments that with the recent slow down of retail market in the US and both the US and European market reaching the saturation point clogging the growth prospect of the retailers, companies like Calvin Klein are now turning their business attention to Asia and South America to explore the vast untapped market.