The bankruptcy
In 2000 Warnaco company lost $200 millon becuase of recent aquistions and mergers. In 2001 Warnaco filed for chapter 11 bankruptcy.
Coming out
On July 4th, 2003 Warnaco escaped the bankruptcy.To rebuild the company Warnaco sold alot of its brands including,White Stag, Ocean Pacific,Catalina, Anne Cole, Cole of California, private label GJM lingerie brand
Lejaby. But they had kept Speedo,Warner's, Olga and Calvine Klein Underwear, Jeans,and
Swimwear.However some decesions to exit certain companies did not help, infact it
ended up hurting the Warnaco. When warnaco exited the companies Micheal Kors and
Nautica it added up to $1.7 millon in losses. Though,Warnaco had its big break
when speedo renewed it's contract with the famous gold medalist Micheal Phelpes
and endorsed the company through the summer games. Since the bankruptcy Warnaco
company's yearly income has been growing steadily. Calvin Klein being the brand
that makes most of the income. Calvin Klein was responsibal for 75% of the $2
billon in 2009 and 14% growth of $519.3 millon in 2010.The company is now still
thriving.
Lejaby. But they had kept Speedo,Warner's, Olga and Calvine Klein Underwear, Jeans,and
Swimwear.However some decesions to exit certain companies did not help, infact it
ended up hurting the Warnaco. When warnaco exited the companies Micheal Kors and
Nautica it added up to $1.7 millon in losses. Though,Warnaco had its big break
when speedo renewed it's contract with the famous gold medalist Micheal Phelpes
and endorsed the company through the summer games. Since the bankruptcy Warnaco
company's yearly income has been growing steadily. Calvin Klein being the brand
that makes most of the income. Calvin Klein was responsibal for 75% of the $2
billon in 2009 and 14% growth of $519.3 millon in 2010.The company is now still
thriving.