Calvin Klein ends licensing agreement with Swatch Group

Calvin Klein and Swatch Group have agreed to end their 22-year licensing agreement.

In a statement, Calvin Klein, Inc. wrote that it had been evaluating its watch and jewelry license in recent years and felt that the growth opportunity it sees for the category had not been optimized with Swatch Group's license. Both parties believe that they have been unable to achieve the maximum potential in key markets.

“We are very optimistic about the potential growth the watch and jewelry category holds for us," Calvin Klein's president of licensing John Van Glahn said in a statement. "We are confident that with the right partner in place we will be able to strengthen this category, as well as our overall lifestyle business."

Calvin Klein is looking into "the best possible partner for the future" for its watch and jewelry category.