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Latino Daily News

Monday March 26, 2012

Calvin Klein Brand Leaves Argentina Permanently

Calvin Klein Brand Leaves Argentina Permanently

Photo: Calvin Klein is leaving Argentina permanently.

Click Here to Enlarge Photo

Another top brand has left Argentina due to government-implemented barriers on imports.

The undergarments brand Calvin Klein Underwear, who arrived in 2008 and opened four stores in different malls recently closed its last store in plans to leave the country permanently. 

Various international luxury brand firms, who preferred to remain anonymous, complained about the lack of products in reports to the news.

Currently, store windows only display summer clothes and several signs advertising discounts of 30 to 50 percent due to the barriers on imports.

This withdrawal of foreign brand stores is part of a second wave, which began with Armani three years ago.

Calvin Klein Underwear, a division of the Warnaco Group U.S., based in New York, which contemplated opening 25 stores in Argentina upon arrival, had to concentrate all their products in one store. There the sales percentage climbed to 75 percent.