FIT Announces $2 Million Gift From Calvin Klein And Calvin Klein, Inc. To Support Annual Fashion Show

Largest Gift Received From An FIT Alumnus

NEW YORK, Feb. 10, 2012 /PRNewswire-USNewswire/ -- The Fashion Institute of Technology (FIT) in New York City has received a $2 million gift from alumnus Mr. Calvin Klein, and the company he founded, Calvin Klein, Inc. Mr. Klein made a donation of $1 million, through the Calvin Klein Family Foundation, which was matched by a $1 million donation by Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. [NYSE: PVH]. This is the largest gift received to date from an FIT alumnus.

The funds will support the college's annual spring runway show, which showcases the capstone designs of students about to graduate with a Bachelor of Fine Arts (BFA) degree in Fashion Design. 

The fashion show is a professionally produced event that provides FIT students with the first opportunity to showcase their talents to industry professionals, established designers, and worldwide media. The 2012 runway show will be held on Wednesday, May 2 at FIT.

Mr. Klein said, "The annual FIT fashion show is the culmination of the very best of the fashion design students' accomplishments during their studies at FIT. This fund is dedicated to ensure that the FIT fashion show will continue to be the students' showcase to our industry without compromise. I am very proud that Calvin Klein, Inc. has joined my family foundation in this effort."

"FIT is extremely proud to call Calvin Klein one of our own," said Dr. Joyce F. Brown, President of FIT. "We value the commitment Calvin has demonstrated to our Fashion Design students by taking on the role of classroom mentor and critic as they prepare their capstone collections. Now, thanks to this generous gift from Calvin and Calvin Klein, Inc., FIT's young designers will have a runway show that is completely worthy of their talents for years to come."

"Calvin Klein, Inc. highly values FIT for both the quality of education and the caliber of talent it brings to the fashion industry," said Tom Murry, President & Chief Executive Officer of Calvin Klein, Inc. "Over the years, we have hired many FIT graduates for roles across our organization, as well as recruited students for our valuable internship programs. We are thrilled to join with Calvin in this initiative and further expand our support of FIT through this contribution to its pivotal annual fashion show. Calvin continues to be the overriding inspiration for what we do and we are proud to honor his design legacy in this way." 

Each spring, as a component of their graduation requirements, more than 150 Fashion Design majors entering their final semester design and produce a collection and have the opportunity to showcase one of their garments in their area of specialization: sportswear, special occasion, knitwear, intimate apparel, or childrenswear.

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