  Calvin Klein
Calvin Klein, Inc. was founded by a well-known fashion designer, Calvin Richard Klein. He and his childhood friend Barry Schwartz (managed the business) founded the company that was then a coat shop in the York Hotel in New York City in 1968. He was awarded the Coty Award for three consecutive years. His worldwide retail sales were estimated at more than $600 million in one year, his clothes sold through 12,000 stores. Even with the company's success, it almost faced bankruptcy in 1992. It eventually regained through the popular underwear and fragrance lines. Calvin Klein, Inc. was later sold to Phillips Van Heusen Corp. Calvin Klein remained the creative head, onto advisor, but progressively became withdrawn from the business.
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