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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LandBridge Company LLC | NYSE:LB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.15 | -6.90% | 29.01 | 32.09 | 28.019 | 31.16 | 587,126 | 22:45:10 |
Warnaco Group Inc. (WRC), the leading global apparel company engaged in the business of designing, sourcing, marketing and selling men’s, women’s and children’s sportswear is planning to tap into the growing Indian market along with Brand Marketing India.
Under the agreement Warnaco will market and distribute Calvin Klein Underwear, Calvin Klein Jeans, Calvin Klein Jeans Accessories and other Calvin Klein branded apparels and accessories.
Warnaco will hold 51 percent share in the joint venture. Some of Warnaco’s license agreements with Calvin Klein, Inc. had to be modified to include India with Warnaco’s licensed territories for selling Calvin Klein Jeans and Calvin Klein Jeans Accessories, as well as for Calvin Klein branded apparels and accessories.
Calvin Klein Inc. is one of the leading fashion studios in the world. It designs and markets women’s and men’s designer collection and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. It is a wholly owned subsidiary of Phillips-Van Heusen Corporation (PVH).
Besides, it needs to be mentioned that in 2000, Calvin Klein, Inc. had sued Warnaco Group alleging Warnaco of diluting the Calvin Klein brand name by producing merchandise that was not authorized or approved by Calvin Klein. Warnaco was also found guilty of distributing Calvin Klein jeanswear through unapproved discount outlets, such as warehouse clubs like Costco.
Though Warnaco was able to retain its Calvin Klein licenses, Calvin Klein was able to regain some of the creative control it had ceded in the original license.
Brand Marketing India ("BMI") is the company that markets the Calvin Klein Jeans, Calvin Klein Underwear in India. Within a short span of over 3 years, BMI has introduced Calvin Klein through over 100 sales stores across 13 Indian cities.
Warnaco delivered decent first quarter results of $1.10 per share. However, it missed the Zacks Consensus Estimate by 13.4%.
Warnaco, which competes with Limited Brands Inc. (LTD) and Maidenform Brands Inc. (MFB), has strong international presence and an ever expanding direct-to-consumer business, which acts as an impetus and helps open up more prospects.
We currently have a Zacks #3 Rank on Warnaco shares, which translates into a short-term ‘Hold’ rating.
1 Year LandBridge Chart |
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