Calvin Klein Inc., a unit of
), has put forward the name of Frank Cancelloni for the position
of President of Calvin Klein Asia Pacific. Mr. Cancelloni will
take over the new positions starting Dec 4, 2013.
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Frank Cancelloni possesses tangible experience in the field,
having worked with companies like Devanlay, VF Asia Ltd.,
American Household (formerly Sunbeam Corp.) and Saint-Gobain. He
most recently served as the Chief Executive Officer of Asia
Pacific at Devanlay, the global apparel and leather goods
licensee of Lacoste.
Though of French origin, Cancelloni is abreast with the Asian
market, having worked there for 20 long years. Over the years,
Cancelloni has supervised fashion apparel, retail, licensing and
distribution businesses in more than 13 countries, developing
profound market know-how in these businesses. Areas under his
operation include North and South Asia, as well as Australia and
In his new role as the President of Calvin Klein's Asian
operations, Cancelloni will overlook the company's worldwide
initiatives for the brand, operations and licensing with an aim
to further boost growth in the region. He will be accountable for
formulating business policies for the Asia-Pacific region,
focused on further strengthening its well-known operations, to
expand its market share and reach in these high-growth markets.
Based in the company's headquarters in Hong Kong, Cancelloni will
report to Steve Shiffman, President & Chief Commercial
Officer of Calvin Klein.
Meanwhile, revenues for the leading global fashion design and
marketing studios rose more than twofold to $670.6 million in
second-quarter fiscal 2013 from $251.2 million in the year-ago
quarter, mainly on the back of the Warnaco acquisition and a 6%
rise in comparable-store sales (comps) at the Calvin Klein North
America retail business. However, comps at the company's Calvin
Klein International segment dropped 1%.
PVH Corp. is a well-known apparel retailer, which owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. Additionally, it markets numerous renowned brands
including, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW,
Bass, G.H. Bass & Co., Warner's and Olga. Its licensed brands
include Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth
Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J.
Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar
and John Varvatos.
Currently, PVH Corp. carries a Zacks Rank #3 (Hold).
Better-performing stocks in the apparel retail industry include
Michael Kors Holdings Ltd.
Ralph Lauren Corp.
). All of these stocks carry a Zacks Rank #1 (Strong Buy).