The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
Christina Zeller, the artistic director of Delvaux, is leaving the company after almost a decade at the Belgian luxury marque. The artistic direction of Delvaux will be taken over by the house's creative studio.
Eric and Michael Dayan, co-founders of Showroomprivé, who bought the rights to the Sonia Rykiel brand after the label's liquidation, are another instance of e-entrepreneurs taking over a renowned French fashion label.
Marco Probst, who led the Belgian luxury leather goods brand from 2012 to 2018, is back in charge, succeeding Jean-Marc Loubier, who continues as president of First Heritage Brands, the group that controls Delvaux.
Cheryl Abel-Hodges has been promoted to chief executive officer of Calvin Klein to replace Steve Shiffman, who is leaving the company to pursue other interests. She will assume her new role this month.
PVH Corp. on Wednesday reported a profit decline for the first quarter 2019, as North America comparable sales fell across both its Calvin Klein and Tommy Hilfiger brands, sending its shares down 12% after hours.