French sale means DK going back to New York

FRENCH luxury group LVMH said yesterday it had sold ready-to-wear group Donna Karan International to US clothing manufacturer G-III Apparel in a transaction that values the company at $650 million (€592 million). The move will see ownership of the Donna Karan and DKNY brands return to New York where they were launched by the US designer in the 1980s. Karan shot to success with her own line of versatile clothing that allowed women to create a wardrobe from a handful of interchangeable items. She then launched DKNY aimed at a younger audience.