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Warnaco Group history
Warnaco Group company history timeline
Wachner accepted a position in Warnaco's marketing department in 1974.
In 1978, she was recruited to head the sagging Max Factor division of Norton Simon, and in two years turned the operation from a $16 million loss to a $5 million profit.
The company itself, however, remained healthy to all appearances, and in 1983 hit a record net income of $28.3 million.
In 1984, the company's profits again started to slide.
Wachner and Galef, through their newly-formed W. Acquisition Corp., won the bid and Wachner stepped in as chief executive in April of 1987, with Galef as chairman.
Wachner also raised capital for Warnaco with a successful public offering in 1991.
By 1992, Wachner had slashed the company's burdensome debt load by 40 percent, boosted the company's stock price by a hefty 75 percent, and increased cash flow from $50 million to $90 million annually.
In 1994, Warnaco acquired the Van Raalte label for apparel sold to Sears Roebuck.
Wachner was especially aggressive in 1996, completing three major acquisitions: GJM Group, Hong Kong maker of private label sleepwear; Body Slimmers Inc., makers of shapewear; and Lejaby-Euralis, French manufacturer of bras and swimwear.
COMPANY NEWSCOMPANY NEWS; WARNACO TO MAKE CALVIN KLEIN CHILDREN'S CLOTHINGApparel maker Warnaco Group Inc acquires license to make Calvin Klein children's jeans and related clothing for $41 million from Commerce Clothing (S)By Bloomberg NewsMay 19, 1998
The success of Warnaco under Wachner reached a high-water mark in 1998, when the price of the company's stock topped $44.
Despite generating revenues of nearly $2.25 billion in 2000, the company lost $344.2 million.
On November 16, 2001, Wachner was ousted as chairman of Warnaco's board, then resigned as chief executive.
On 31 October 2012, the company announced that it would be acquired by PVH for $2.8 billion in cash and stock. (en)
acquired by PVH in 2013 (en)
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Warnaco Group competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Fruit of the Loom | 1851 | $6.6B | 32,400 | 7 |
| LIZ CLAIBORNE | 1976 | $1.2B | 6,800 | - |
| Ralph Lauren | 1967 | $6.6B | 18,250 | 381 |
| Abercrombie & Fitch Co | 1892 | $4.9B | 44,000 | 2,174 |
| The Children's Place | 1969 | $1.6B | 2,100 | 439 |
| Kellwood | 1961 | $213.7M | 1,132 | - |
| Oxford Industries | 1942 | $1.5B | 6,100 | - |
| O E S Inc | - | - | - | 7 |
| The Gerson Companies | 1942 | $66.0M | 115 | - |
| IC Group | 2001 | $359.2M | 56 | - |
Warnaco Group history FAQs
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Warnaco Group may also be known as or be related to Warnaco Group, Warnaco Inc and Warnaco Inc.