Calvin Klein Cuts Annual Cannes Party Amid Restructuring

Fergie and designer Francisco Costa arrive on the red carpet at amfAR's 5th Annual Inspiration Gala at the Plaza Hotel in New York City on June 10, 2014. Calvin Klein will not host its annual Cannes party this year, reportedly due to the exit of two of its most influential creatives including Costa and Italo Succhelli. File Photo by Dennis Van Tine/UPI | License Photo

WASHINGTON, May 4 (UPI) — Calvin Klein will not be hosting its annual party at the Cannes Film Festival this year, according to reports.

The news, first reported by The Hollywood Reporter, comes just as “Suicide Squad”¬†actress Margot Robbie was named the spokesmodel for the designer brand’s new fragrance, Deep Euphoria.

After just four years of hosting the party, sources tell THR the company is less enthusiastic about celebrations since two of its most influential designers –Francisco Costa and Italo Succhelli — left the brand.

A rep confirmed the news to the outlet but failed to explain the reasoning.

The brand recently dressed several celebrities at this year’s Met Gala including the likes of Emma Watson, Lupita Nyong’o, now-spokesmodel Margot Robbie and Amandla Stenberg. Watson’s dress was especially notable, as it was made completely out of sustainable materials and was meant for frequent wears.

“Thank you Calvin Klein & Eco Age for collaborating with me and creating the most amazing gown,” the actress wrote on Facebook following the annual event. “I am proud to say it is truly sustainable and represents a connection between myself and all the people in the supply chain who played a role in creating it.”

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