In a rare move, LVMH – usually known to buy, grow, and hold on to brands – is selling Donna Karan and DKNY, reports say.
The buyer is G-III Apparel Group, Ltd. With the exception of its G. H. Bass brand and a Karl Lagerfeld joint venture, G-III mostly is a licensee. Its licenses are from brands such as Calvin Klein, Tommy Hilfiger, Kenneth Cole, Cole Haan, Guess?, Jones New York, Ellen Tracy, Levi’s, and Dockers. It is involved also with the NFL, NBA, MLB, NHL, and colleges and universities.
The purchase price for Donna Karan International, Inc., parent of the Donna Karan and DKNY brands, will be US$ 650 million.
Donna Karan and DKNY have a colorful history, not entirely free from trouble. The brands have licenses in various categories like legwear, menswear, kidswear, eyewear, sleepwear, underwear, watches, home textile, fragrances, and porcelain.