Calvin Klein (New York) plans to reorganize its North American division, which will include closing its New York flagship on Madison Avenue.
The three-story location will close later this spring. It originally opened in 1995, and according to Chain Store Age, it was “reinvented” in 2017.
The reorganization will also entail efforts to grow global sales to $12 billion, as well as pursue a “digital-first” approach. It also plans to relaunch its higher-end brand called Calvin Klein 205W39NYC under a new name with an updated design approach and creative direction.
The company explained, “The relaunched business will be designed to evolve the traditional luxury fashion model by connecting with a diverse range of communities, offering an unexpected mix of influences and moving at an accelerated pace.”