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Calvin Klein was born in 1942 in the Bronx, New York, the child of immigrant parents from Hungary and Austria. He attended, but never graduated from, the Fashion Institute of Technology in New York City. His real education came from his apprenticeship at the garmento company Dan Millstein, where he worked his way up to designer. He founded the company after his name in 1968 as a coat shop in the York Hotel, and his first line was featured at Bonwit Teller, which earned him a cover shot on the September 1969 cover of Vogue Magazine. He continued earning his success in the following decades, and the growth of his company grew exponentially as he added different accessories to the line. But the rapid growth was followed by financial loss, and in 1992 the company almost went bankrupt. He escaped and grew the company through the 1990’s due mainly to the success of the underwear and fragrances. During this time, John Varvatos worked for Calvin Klein and invented the “boxer brief”, which were later popularized by Mark Wahlberg in a series of print advertising. The underwear success served to launch the company into more growth, which then led to more buy out rumours, and the company was finally sold to Phillips van Heusen in late-2002.