apparel

As Consumer Spending Cools, Calvin Klein Ads Get Hot

Calvin Klein is rolling out its fall campaign, combining those obligatory sexy underwear shots with celeb-curated soundtracks and imagery in vignettes that show off the brand's classic essentials. And those wardrobe basics may be more likely to resonate with U.S. shoppers, who continue to rein in spending on apparel.

Shot by Inez & Vinoodh, a husband-and-wife fashion photo team, the ads aim to convey Calvin's signature sexiness in a little more playful way.

Kid Cudi, a rapper, and Alexa ("Euphoria") Demie, both Americans, are new this year. They join a group including Jenni (in this ad), the Korean singer and part of Blackpink; BTS' Jung Kook (in this spot); and model Kendall Jenner.

"Taken separately, each scene tells a story of empowered confidence," Calvin Klein says in its press release. "As a whole, the campaign artfully embodies different facets implicit to the Calvin Klein brand."

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The celebrities show off underwear, jeans and apparel, with new fabrics updating some of its classic silhouettes. The ads are running on the brand's social media channels and high-visibility digital and out-of-home placements worldwide.

Here in the U.S., Calvin Klein has faced rough going. In its most recent quarterly results, parent PVH Corp. said Calvin Klein had roughly flat revenues with the prior year's first quarter. While the international side of the business saw a 7% gain to $598.3 million, sales at Calvin Klein North America dropped 12% to $227.7 million from $256.9 million in the first quarter of 2022.

With back-to-school shopping in full swing, fewer Gen Z fans will likely be stocking up on their Calvins.

In a new report from the National Retail Federation, its chief economist sees a marked slowdown in consumer spending moving into the year's second half.

"The economy was more resilient in the first half of this year than many expected, and the consumer environment has been positive as inflation has slowed," writes Jack Kleinhenz. "Consumers are still spending but are under financial pressure and have been adjusting how much they buy while also shifting from goods to services."

Year-over-year consumer spending fell to 1.6% in the second quarter from 4.2% in the first.

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