The well-known apparel maker¹ Calvin Klein will close its flagship store on Madison Avenue in New York City this spring.

 

今年春天，知名服装生产商CK将关闭纽约城麦迪逊大道上的旗舰店。

 

The brand, a wholly owned subsidiary of PVH Corp., said in a statement that the 654 Madison Avenue store will be closed as a result of Calvin Klein's ongoing² assessment³ of its omni-channel strategy.

 

The company is evaluating options for future retail⁴ locations, and will also be unveiling new consumer experiences both online and offline.

 

According to the statement, the brand's leadership team has adopted a digital-first approach and would begin reorganize its North American division, combining operations in sportswear and jeans.

 

"These strategic initiatives will enable us to run a more modern, dynamic and effective business, as well as allow us to reinvest in the brand," said Steve Shiffman, chief executive officer of Calvin Klein, in the statement.

 

Talking about the reason behind its strategic changes, Shiffman said the apparel industry is witnessing a historic transformation⁵ in consumer behavior which presents a significant growth opportunity.

 

He said the company looks to grow the brand to 12 billion U.S. dollars in global retail sales over the next few years.

 

"Now more than ever, we must double down on meeting consumer demands by creating culturally relevant products and experiences that engage communities by pushing fashion and culture forward," Shiffman added.

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