Warnaco Group WRC January 2009 Presentation

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Forward Looking Statements Certain statements in the following presentation regarding Warnacos

business operations may constitute forward looking statements as

defined by the Securities and Exchange Commission.

Such statements are not historical facts, but are predictions about thefuture which inherently involve risks and uncertainties, and these risks

and uncertainties could cause actual results to differ from those containedin the forward looking statements.

We urge investors to read the descriptions and discussions of these risks

that are contained on slide 12 of this presentation as well as in theCompanys annual and quarterly SEC filings.


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Strategy

Maximize profitability and sales by leveraging

our business and brands through:

Growth of Calvin Klein businesses

Geographic expansion

Direct to consumer initiatives

Operational excellence

Align costs to reflect todays economic conditions


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Calvin Klein Worldwide


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Calvin Klein $1.2 billion dollar brand in 2007

9MOS 08 Calvin Klein revenue growth 28%

9MOS 08 Net Revenues $1.2 billion

9MOS 08 Operating margins 17.4%

Calvin Klein

Underwear, $515

Calvin Klein Jeans,

$650

Calvin Klein

Accessor ies , $54

Calvin Klein Swim,

$23

Amounts in millions


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Calvin Klein Jeans

9MOS 08 Net revenues: $736 million

Operating margin*: 14.5%

Priorities and Opportunities:

YTD revenue growth >30%

Expand direct to consumer

Maximize accessories opportunity

Focus on lifestyle

Leverage global operating platform

*Operating margin excludes shared service expense, restructuring expense and other items


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Calvin Klein Underwear




YTD revenue growth 23%

Increase market share

Expand geographically

Extend direct to consumer

*Operating margin excludes shared service expense and restructuring expense


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International Opportunities



Priorities & Opportunities

Revenues up 35%

Continue expansion

(~50% of Total Company revenues)

Leverage regional and country platforms

Grow direct-to-consumer network

Expand geographic reach to developing markets

*Operating margin includes shared services expense and excludes restructuring expenseprimarily related to the exit of the Calvin Klein Collection business.


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Direct-to-Consumer 9MOS 08 Net revenues: $321 millionOperating margin: 11.2%

Priorities & Opportunities:

Revenues up 34%

4 wall profitability in excess of 20%

Over 840 direct to consumer locations

Added 80,000 sq ft of retail space YTD

Will add additional 20,000 by year-end

Expect to add another 100,000 sq ft of retailspace in 2009 (>20%)

Drive revenues generated through direct-to-consumer toward 25% of total

E-Commerce


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Heritage Businesses




Revenues up 2%

Operate for profitability

Capitalize on Olympic opportunity

Protect leadership position

Balance service and inventory risk

Improve operating margins

*Operating margin excludes shared services expense and restructuring expense


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Financial Strength Balance SheetCash and cash equivalents as of October 4,2008

were $123 million compared to $189 million as of

September 29, 2007

Used $76 million in the 3Q08 to reduce long-term debt

Net leverage ratio less than .5x at October 4, 2008

Repurchased approximately 1 million shares ofcommon stock during the fourth quarter.

Approximately 1.5 million shares remain under2007 authorization

Net inventories were $316 million at quarter-end,

down from $340 million last year


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Summary

Strong brands

Organic growth opportunities

Strong financial position

Focused on creating long-term shareholder value


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Documents

Warnaco Group WRC January 2009 Presentation