Italian Acquisition for Warnaco
New York–based Warnaco Group Inc. acquired 22 Calvin Klein Jeans retail stores and other assets from its largest Italian franchise partner, L’Innominato S.p.A, a part of the Percassi Group. The stores are located in shopping centers across Italy and are expected to generate about $38 million (at current exchange rates) in revenues in fiscal 2011. The Italian stores represent more than 50,000 square feet of retail space. Based on revenue, the deal will make Italy Warnaco’s largest retail market in Europe, where Warnaco will operate 58 stores.
