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The famed fashion designer, 78, had purchased the East Hampton home back in 1987 from the son of Juan Trippe, the founder of Pan American World Airways, for only $3.6 million at the time with...

Calvin Klein Inc. is an internationally operating, American fashion house. The company, which became famous for its designer underwear and denim lines in the 1980s, specializes in mass-market ready-to-wear clothing for all genders and age groups as well as leather products, lifestyle accessories and shoes, home furnishings, perfume/cosmetics, eyewear, jewellery and watches in the mid-price segment.

A few days ago, it was reported that Calvin Klein had sold his estate in the Hamptons for $85 million. Which was, for anyone who had a passing familiarity with the fashion designer’s public...