After more than 22 years of an exclusive collaboration, Swatch Group has decided to let the watch and jewellery licensing agreement with Calvin Klein end at its date of expiration.
In a short two-paragraph statement, Swatch Group said it was ending the long-time partnership due to the “recent turbulence and uncertainties at the management level of Calvin Klein Inc., New York”.
Calvin Klein, however, cites not being able to achieve “maximum potential in key markets” as the reason for parting ways.
The brand states: “Calvin Klein has been evaluating our watch and jewellery license over the past few years as the growth opportunity we see for the category has not been optimised with the current licensee, Swatch Group.
“Calvin Klein and Swatch Group have agreed to end the relationship after 22 years, as both partners believe that they have been unable to achieve the maximum potential in key markets.”
Calvin Klein is currently evaluating the best possible partner for the future and says it will announce its partner in due course.
John Van Glahn, president licensing, Calvin Klein, adds: “We are very optimistic about the potential growth the watch and jewellery category holds for us. We are confident that with the right partner in place we will be able to strengthen this category, as well as our overall lifestyle business.”