The Warnaco Group, Inc. completed its acquisition of 100% of the shares of the companies that operate the licenses and related wholesale and retail businesses of Calvin Klein jeans and accessories in Europe and Asia and the CK Calvin Klein “bridge” line of sportswear and accessories in Europe.
Based in Florence, Italy, these businesses will be headed by Gaetano Sallorenzo, who recently joined Warnaco as president and CEO of Calvin Klein jeans and sportswear for Europe and Asia. The acquired businesses had revenues of approximately $250 million (based on average exchange rates) for fiscal 2005 and are expected to be accretive to WRNC earnings this year.
