Klein was originally scheduled to stage his show back-to-back with fellow American designer Ralph Lauren on Thursday January 15, but made a quick decision to pull out on Friday.

"We will present our fall 2003 collection in our showroom instead of the runway during fashion week in January," explained a spokeswoman for the company. "It is a more intimate and straight-forward setting and just feels right to us at this time."

The industry has been abuzz in recent weeks with news that Klein's designer business, as well as Warnaco's Calvin Klein jeans and underwear brands, are back on the block.

After failing to reach a deal during the first attempt to sell the company back in 2000, the newest round of offers is certainly encouraging Klein to be on his best financial behavior. Eliminating full-blown fashion shows, which can sky rocket past the six-figure mark, is a great way to cut costs quickly.

Calvin Klein's women's collection has always been presented during New York Fashion Week, but in January 1999 the American designer exported his men's show across the pond to Milan, a much hotter venue in the world of men's fashion.

For the last four years, Klein has consistently produced men's runway shows in his ultra sleek Milanese showroom, with the exception of last January when key men's pieces were inserted into his women's fall 2002 runway show in New York.