Warnaco

American manufacturer of intimatewear and men’s fashion. The company produces underwear for Calvin Klein, Olga, Valentino and Warner, and men’s apparel for Ralph Lauren (Chaps line). It sells to over 16,000 stores. It is considered the second-largest American group in the sector of women’s underwear, immediately behind Sara Lee Playtex. It employs some 20,000 people.
&Quad;In 2001, the American manufacturer, long insolvent toward the brands it licensed, went through its darkest moment: in June it was placed in Chapter 11, for bankruptcy protection, and was put under court administration. The debts amounted to 2.45 billion dollars. The first step out of Chapter 11 was the elimination of the sleep line GJM and the lingerie lines Izka and Lejaby, as well as various remixings of the management. The restructuing yielded its first fruit and, after 18 months, the group emerged from Chapter 11, reducing its debt to 247 million dollars. Even with a management structure missing several of the key positions that had not been reassigned, the New York-based company ended 2002 with less operating losses and debts than the year before.
&Quad;In Spring of 2003, the return to health could be said to be definitively underway when Nautica Apparel signed a multi-year agreement with Warnaco to license the production and sale of its lines of swimwear. Today Warnaco has become once again one of the leading names in the production of swimsuits, intimatewear, menswear, jeanswear and accessories with its own labels and with licensing agreements for Calvin Klein, Chaps and Polo by Ralph Lauren, Speedo-Authentic Fitness and others.