Birmingham, MI (PRWEB) May 12, 2010
Wingspan Capital Partners LLC (“Wingspan”) announced today that they have formed a wholly owned entity called Z3 LLC to acquire the exclusive license rights to manufacture, sell, and distribute Calvin Klein Home Furniture. Calvin Klein Home and Calvin Klein Home Furniture are license trademarks of Calvin Klein, Inc., a wholly owned subsidiary of Phillips-Van Heusen Corporation [NYSE: PVH].
Headquartered in Birmingham, Michigan, the management team of Z3 has been assembled by Wingspan and will work closely with manufacturers to deliver the product to an eager retail distribution network. The territories included in the agreement include North America, Australia and specific regions within Central and South America, including Argentina, Belize, Brazil, Colombia, Costa Rica, Dominican Republic, Ecuador and Venezuela.
“Wingspan has traditionally acquired under-managed businesses with the expressed intent of growing the business by adding talented, energized management, economic resources and expanding their sales and marketing programs,” said Ray Gunn Managing Partner, Wingspan Capital Partners. “As principals we have a deep understanding of starting businesses from the ground-up and building teams to enter new markets. Our role here with Calvin Klein was to build the team, get the manufacturing operation in place, develop the distribution channels and follow the expertise of the Calvin Klein (CK) organization into the furniture market, which is a new endeavor for CK. We are very excited about this opportunity, as it is not often you get to enter a new market with such a strong and recognized brand,” said Ray.
The Calvin Klein Home Furniture line was shown last month at the Spring 2010 High Point furniture market in North Carolina. High Point market is the largest furniture industry trade show in the world, and was an opportunity for Calvin Klein and Z3 to introduce the new Calvin Klein Home Furniture product, manufactured in facilities managed by Z3.
Calvin Klein Home Furniture is presently sold at fine furniture retailers in the Americas and Australia and is designed by the brand’s in-house team of designers, led by Amy Mellen, the Creative Director for Calvin Klein Home.
Calvin Klein Home, established in 1995, currently designs and markets licensed products around the world spanning bed and bath, tabletop and gifts, table linens, rugs, down, upholstery, and furniture.
Wingspan Capital Partners is a Private Equity Firm focused on investing in small businesses with niche or platform operations that may be in transition and require new ownership, resources and or direction. Wingspan considers opportunities in various industries from its combined network of business and professional relationships that satisfy Wingspans' “Investment Criteria”. The businesses should be in a large target market that is growing overall and is reachable by the business with the right resources and management. The business should have a sustainable competitive advantage and the business revenue and profit model should be credible, verifiable, efficient and sustainable. For more information, please visit http://www.wingspancapital.com.
Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women’s and men’s designer collection apparel and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. Brands/lifestyles include Calvin Klein Collection, ck Calvin Klein, Calvin Klein, and Calvin Klein Jeans. Product lines under the various Calvin Klein brands include apparel, accessories, shoes, underwear, sleepwear, hosiery, socks, swimwear, eyewear, watches, jewelry, coats, and fragrances, as well as products for the home. For more information, please visit calvinklein.com.
Wingspan Capital Partners Calvin Klein, Inc.
Raymond Gunn Jennifer Crawford
Managing Partner VP, Corporate Communications
248-961-0247 212 292 9795
rayg (at) wingspancapital (dot) com jennifercrawford (at) ck (dot) com