later dismissed lawsuit with Calvin Klein over selling license products to retailers other than agreed upon with Calvin Klein, Warnaco had filed for chapter 11 protection in mid-2001 but eventually emerged from bankruptcy in February 2003. The transaction between Calvin Klein and PVH was financially supported by Apax Partners Inc., a New York private equity firm, which is said to have made a $250 million equity investment in PVH convertible preferred stock, as well as a $125 million, two-year secured note, all in exchange for seats on the board of PVH. CKI thus became a wholly owned subsidiary of PVH. In the beginning, Klein himself, who was included as a person in the 15-year contract he had signed with PVH, remained creative head of the collections but then continued as an advisor (consulting creative director) to the new company from 2003 on and has since been more withdrawn from the business. Barry K. Schwartz was said to concentrate on his role as chairman of the New York Racing Association, a horse-racing club. The current President and COO of the CKI division within PVH are Tom Murry, who had filled this position already before the acquisition. Upon the acquisition of Calvin Klein, Phillips-Van Heusen announced plans of launching a new men's sportswear collection that rivals Ralph Lauren's collection. This line is produced by Van Heusen. With the fall 2006 Collection runway presentations in New York City, CKI inaugurated an showroom space that can seat up to 600 people on the ground floor of 205 West 39th Street, in Times Square South where Calvin Klein has been headquartered since 1978. In a 2010 report, PVH, who manages the ready-to-wear activities, had estimated sales of €4.6 billion of Calvin Klein products. In February 2013, Warnaco Group was acquired by PVH which united Calvin Klein formal, underwear, jeans and sportswear lines. In 2020, PVH announced that as part of their animal welfare policy, the company does not use exotic skins and would be banning their use in Calvin Klein collections when "our annual update of that policy is released." Product and brand history The most visible brand names in the Calvin Klein portfolio include: Calvin Klein 205W39NYC (black label, upscale top-end designer line) ck Calvin Klein (grey label, recently repositioned as bridge collection line; licensed to Warnaco Group, Inc. through at least 2044. PVH acquired Warnaco Group in Feb 2013) Calvin Klein (white label,