| ||
|
|
Tom Murry, president and chief operating officer of Calvin Klein Inc., talks to The Korea Times about the prospects of the Calvin Klein brands in Korea.
/ Korea Times Photo by C. McCarthy
By Cathy Rose A. Garcia Staff Reporter
The Calvin Klein brand is a household name around the world, especially in Korea where it is one of the most popular designer brands.
The high-end line Calvin Klein Collection, bridge line ck Calvin Klein and casual wear Calvin Klein Jeans are all enjoying success in the Korean market.
Tom Murry, president and chief operating officer of Calvin Klein Inc., sees even brighter prospects for the Calvin Klein brands in Korea.
``Up until 2008, Korea has been our number two country in Asia. Japan, our oldest business in Asia, was number one. But in 2008, Korea will surpass Japan as our biggest market in Asia. The performance across the board for our various brands has been very positive,'' Murry told The Korea Times, in an interview Wednesday at a hotel in southern Seoul.
Murry attributes the brand's overall success in Korea, and Asia in general, to its high quality products and high profile advertising campaigns, such as the memorable ads featuring Brooke Shields, Marky Mark and recently Djimon Hounsou.
``Over the last 25 years, we have spent $2.5 billion in advertising our brand around the world. The advertising message has been very consistent. We have Calvin Klein himself to thank for that. The other part is we worked hard on the consistency of the high quality products and excellent execution,'' he said.
Asia accounts for approximately 25 percent of Calvin Klein's total business, while the United States accounts for 50 percent and the rest from Europe and the Middle East. While he doesn't see any major changes in the near future, Murry predicts sales will be skewed to Asia in the long-term.
Among its extensive product categories, Calvin Klein Collection is considered the ``image maker'' for the Calvin Klein brand. ``We are looking forward to expanding our Calvin Klein Collection business, which we recently took back in-house… This is a very important business for us. The collection creates a halo for the brand. It is the `image maker' that helps generate sales for ck Calvin Klein and Jeans business,'' Murry said.
As for ck Calvin Klein, Murry said it is a new business but is doing very well in Asia and Europe. ``The brand ck Calvin Klein also plays a role in creating the image for the brand. The prices are the next level down from Calvin Klein Collection. We're able to cater to a broader consumer audience, and there's a much higher volume potential. It's a little more trend driven, more youthful and more contemporary,'' he said.
In Korea, ck Calvin Klein, which is distributed by Bifun Trading Co. Ltd., is available in all the major department stores. The line is popular among young, working women who favor the minimalist and sophisticated look of the designs, but at a mid-range price point.
Founding designer Calvin Klein gave up control of the company in February 2003, but still keeps tabs on the company's progress. Calvin Klein Inc. is now a wholly owned subsidiary of Phillips-Van Heusen Corp.
``He (Klein) doesn't have any official involvement but we frequently talk. He loves to hear what's going on and I often ask him for advice. We have a great relationship. He's pleased with the way things are going,'' Murry said.
It may be hard to believe but the Calvin Klein brand is celebrating its 40th anniversary this September.
``It may seem like we've grown very fast but we really haven't grown that fast. We are very careful and cautious. And we don't get into any product category or channel distribution that we think would be damaging to the brand,'' Murry said.
Calvin Klein, now considered a lifestyle brand, has over 40 product categories available in 75 countries, and it continues to expand its business. The Calvin Klein line of golf wear and line of women's fitness wear were recently introduced in the United States and will soon be available in Asia.
Murry said the ck Calvin Klein beauty cosmetics line will be coming out in the fall this year, and a furniture line will be launched in the United States in spring 2009.
When asked how Calvin Klein plans to stay competitive, Murry said ``it's all about continuing to be fresh and innovative in advertising and products.''
cathy@koreatimes.co.kr
No comments:
Post a Comment