Following Raf Simons' Exit, Calvin Klein Is Closing Its Ready-To-Wear Business

After chief creative officer Raf Simons\' nightmare-before-Christmas, effective-immediately departure last December shocked the fashion world, Calvin Klein, Inc. announced today that it will be shuttering its runway business altogether. Last month, the billion-dollar fashion and lifestyle company reported it was closing its higher-end, Simons-born 205W39NYC line. The company will also let go of some 100 employees — 50 in New York and 50 in Milan.Reports of waining 205 sales surfaced last year, when Calvin Klein parent company PVH\'s chief executive Emanuel Chirico plainly expressed his chagrin after its earnings were made public. \"We’ve been disappointed that our investments in the 205 collection business have not delivered the results we expected,\" Chirico said. \"We will cut back on a number of these planned investments in the 205 collection business, and as we move forward, we will be taking a more… commercial approach to this important business.\" He went on to call the relaunche