Calvin Klein announced the closure of their entire runway line and their Milan office. The houses’ first and now last chief creative officer, Raf Simons announced his retirement at the end of last year, and while looking for their next successor, the turn of events concluded to a drastic end. The brand represented American fashion and (according to the estimate of "WWD Japan", product sale worldwide conjured up to 880 billion yen) along with other withdrawals that come to mind for example is Donna Karan who decided to put her collection line "Donna Karan New York" on hold following her retirement in 2015. Later, shareholder LVMH sold the company to the G-III Apparel Group. The group is also a licensee who manufactures and sells the brand's handbags such as "Calvin Klein" and "Calvin Klein Performance".