194:, Christian Dior, Hathaway, Chaps by Ralph Lauren, and Jack Nicklaus; and in intimate apparel with Valentino, Ungaro, Scaasi, Bob Mackie, Fruit of the Loom, and Victoria's Secret. In 1990 Wachner sold 95% of its activewear division which included Speedo bathing suits for $ 85 million to a management group led by Wachner and several other Warnaco executives. In 1992, the company, renamed Authentic Fitness, went public. In 1999, Warnaco reacquired Authentic Fitness for $ 504 million (~$ 867 million in 2023) ($ 414 million in cash and $ 120 million in the assumption of debt).
210:, which Klein contended devalued his brand name. Warnaco responded by saying that Klein had known of the sales to warehouse clubs all along and that he had failed to participate in meetings about the design of Warnaco's Calvin Klein clothing. The lawsuit was settled in 2001. Although the terms of the settlement were not publicly revealed,
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In 1986, hearing that
Warnaco's CEO, Robert Matura, wanted to take the company private, she partnered with Los Angeles investor Andrew Galef and offered $ 36 a share for the company. Although a bidding war broke out with competing bidder Matura, Wachner and Galef ultimately won the bid paying $ 46.50
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Warnaco filed for bankruptcy protection on June 11, 2001. In
November of that year, Wachner left her position as chief executive of Warnaco, but continued to provide transition assistance during the company's bankruptcy. Wachner's contract (which would otherwise have entitled her to a payment of $
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reported that
Warnaco would retain its license for Calvin Klein jeanswear but would have to limit its sales of such jeans to warehouse clubs and mass merchandisers, while Klein or his design team would have the right to approve changes in cut and material but would have to respond quickly to
187:. Wachner effectively took control of the company becoming at the time the only female CEO of a Fortune 500 industrial company. In October 1991, Warnaco went public. She shrunk the business, selling off money losing lines to focus on two divisions: intimate apparel and menswear.
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In 2000, Calvin Klein, Inc. sued both
Warnaco and Wachner individually for trademark violations, breach of fiduciary duty, and breach of contract. The lawsuit stemmed from Warnaco's selling Calvin Klein branded jeans and underwear to
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Fortune
Magazine: "AMERICA'S MOST SUCCESSFUL BUSINESSWOMAN Linda Wachner, the CEO of Warnaco, cut the debt, took the company public, and boosted the stock price 75%. Any wonder her holding is worth $ 72 million? by Susan
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in New York City. In 1974, she then took a marketing job at
Warnaco and soon became a vice president, the company's first. In 1978, she went to work for
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In 1973, she married
Seymour Appelbaum who was 31 years her senior; he died in 1983. They did not have any children.
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Wall Street
Journal: "Warnaco to Acquire Authentic Fitness For $ 414 Million in a Sweetened Offer" By REBECCA QUICK
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The New CEOs : Women, African
American, Latino, and Asian American Leaders of Fortune 500 Companies
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listed
Wachner among the seven "roughest, toughest, most intimidating bosses". Also on the list were
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in 1984, Wachner raised $ 280 million and tried to buy the company; Beatrice rejected her offer.
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Inc. from 1986 to 2001. She began her career as a buyer for department stores including
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111:(born February 3, 1946) is an American businesswoman. She was President and CEO of
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43.6 million on termination) had been voided as a result of the bankruptcy.
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During this time Warnaco had licensing agreements in menswear with Speedo,
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506:"The Markets: Market Place; Calvin Klein Suit Against Warnaco Is Settled"
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Published: 2014-03-18 |Publisher: Rowman & Littlefield Publishers
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department store in Houston; and then as the bra and girdle buyer at
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The House of Klein: Fashion, Controversy, and a Business Obsession
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a share or $ 550 million of which $ 500 million was borrowed via
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tasked with turning around the money-losing U.S. division of
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American Inventors, Entrepreneurs & Business Visionaries
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557:"After 15 Years, Executive's Short Goodbye"
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665:American textile industry businesspeople
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610:"Women executives move up on pay scale"
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410:"Fashion Avenue's $ 100 Million Woman"
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16:American businesswoman (born 1946)
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581:"The toughest bosses in America"
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555:Kaufman, Leslie (2001-11-17).
530:"Warnaco files for bankruptcy"
504:Kaufman, Leslie (2001-01-23).
326:Ruiz, Lillian; Arora, Rupali.
293:Carey, Charles W. Jr. (2002).
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670:University at Buffalo alumni
685:21st-century American women
680:20th-century American women
153:Federated Department Stores
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675:21st-century American Jews
660:20th-century American Jews
655:American women in business
102:Shirley and Herman Wachner
486:. The Wall Street Journal
591:. 1993-09-28. p. 10
328:"Linda Wachner (1946- )"
185:Drexel Burnham Lambert
242:Cypress Semiconductor
149:University of Buffalo
66:University of Buffalo
442:Marsh, Lisa (2003).
256:of Dart Group, and
208:BJ's Wholesale Club
616:. Prescott, Ariz.
585:Lodi News-Sentinel
561:The New York Times
510:The New York Times
414:The New York Times
213:The New York Times
432:November 17, 1999
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622:. Retrieved
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165:Norton Simon
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645:1946 births
540:19 November
53:Nationality
639:Categories
624:2010-11-14
595:2010-11-18
566:2010-11-18
515:2010-11-18
490:2010-11-18
461:2010-11-18
312:2010-11-18
280:References
246:Steve Jobs
169:Max Factor
135:family in
131:Born to a
72:Occupation
35:1946-02-03
229:In 1993,
127:Biography
99:Parent(s)
61:Education
534:BBC News
393:Caminiti
234:magazine
202:such as
56:American
266:Miramax
232:Fortune
157:Foley's
117:Foley's
85:Warnaco
83:CEO of
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258:Harvey
204:Costco
173:Esmark
161:Macy's
141:Queens
133:Jewish
121:Macy's
91:Spouse
225:Other
64:B.A.
542:2010
450:ISBN
301:ISBN
260:and
206:and
119:and
29:Born
332:CNN
264:of
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