SHUTTERSTOCK/MAHATHIR MOHD YASIN
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.