In mid-December 2002, Calvin Klein Inc. (CKI) was sold to Phillips Van Heusen Corp (PVH),[12] whose then CEO Bruce Klatsky was the driving force behind the deal, for about $400 million in cash, $30 million in stock as well as licensing rights and royalties linked to revenues over the following 15 years that were estimated at $200 to $300 million.[13] The sale also included an ongoing personal financial incentive for Klein based on future sales of the Calvin Klein brand.