Calvin Klein Sells His Company

By the end of the 90s, Calvin Klein was in control of a vast empire with retail presence in the United States, Europe, the Middle East and Asia. After he decided he wanted to sell his company, the deal took nearly three years to be finalized. Eventually, the country's largest shirt maker, Phillips-Van Heusen, bought the company for $400 million in cash plus more in royalties. Although the company was no longer his, Klein decided to stay on board without a title.