Business Overview
Warnaco's history dates back to 1874. The original company designed, manufactured and sold Warner’s corsets to retailers. Since then, Warnaco has evolved into a global apparel leader which designs, sources, markets, licenses and distributes a broad line of intimate apparel, sportswear and swimwear worldwide. The Company's products are sold under several highly recognized brand names, including, but not limited to, Calvin Klein®, Speedo®, Chaps®, Warner's® and Olga®.
The Company's products are distributed domestically and internationally, primarily to wholesale customers through various distribution channels, including major department stores, independent retailers, chain stores, membership clubs, specialty and other stores, mass merchandisers and the internet. In addition, the Company distributes its Calvin Klein branded products through dedicated Calvin Klein retail stores, and as of December 29, 2007, the Company operated 740 Calvin Klein retail stores worldwide (consisting of 56 full price free-standing stores, 68 outlet free-standing stores, one on-line store and 615 shop-in-shop/concession stores). There were also 388 Calvin Klein retail stores operated by third parties under retail licenses or franchise and distributor agreements. The Company also operates one Speedo on-line store.
For the fiscal year ended December 29, 2007 ("Fiscal 2007"), approximately 51.7% of the Company's net revenues were generated from domestic sales and approximately 48.3% were generated from international sales. The Company’s products are sold in over 100 countries throughout the world.
The Company owns and licenses a portfolio of highly recognized brand names. The trademarks owned or licensed in perpetuity by the Company generated approximately 45% of the Company’s revenues during Fiscal 2007. Brand names the Company licenses for a term generated approximately 55% of its revenues during Fiscal 2007. Owned brand names and brand names licensed for extended periods (at least through 2044) accounted for over 80% of the Company’s net revenues in Fiscal 2007. The Company's highly recognized brand names have been established in their respective markets for extended periods and have attained a high level of consumer awareness.
Olga®
Body Nancy Ganz™/Bodyslimmers®
Lejaby® Lejaby Rose®
Rasurel®
Calvin Klein® and formatives (beneficially owned for men's and women's and children's underwear,
loungewear and sleepwear)
| Trademarks Licensed In Perpetuity |
Territory |
| Speedo/Speedo Authentic Fitness® (c) | United States, Canada, Mexico, Caribbean |
| Axcelerate engineered by Speedo™ (c) | United States, Canada, Mexico, Caribbean |
| Trademarks Licensed for a Term |
Territory |
| Calvin Klein (for jeans and jeans-related products) | North, South and Central America |
| Chaps (for men's sportswear) | United States, Canada, Mexico |
| Nautica® (for women's swimwear, beachwear and accessories) | United States, Canada, Mexico, Caribbean |
| Lifeguard® (for swimwear and related products) | United States, Canada, Mexico, Caribbean |
| Calvin Klein, CK Calvin Klein and Choice Calvin Klein (for men's, women's and juniors swimwear) | Worldwide (as geographic regions become available) |
| Michael Kors® and MICHAEL Michael Kors® (for women's swimwear) | Worldwide (excluding Japan) |
- (c) Licensed in perpetuity from Speedo International, Ltd.