LVMH sell­ing Donna Karan brand to G-III Ap­parel

The Hamilton Spectator - - STYLE -

French lux­ury gi­ant LVMH Moet Hen­nessy Louis Vuit­ton is sell­ing its Donna Karan and DKNY cloth­ing brands to U.S. group G-III Ap­parel in a $650-mil­lion deal.

It’s a rare sale for LVMH, owner of brands such as Chris­tian Dior, Kenzo and Sephora and a leader in the lux­ury world.

New York-based G-III owns brands in­clud­ing Bass shoes and Vile­bre­quin cloth­ing, and has li­cences with U.S. sports leagues. It’s look­ing to ex­pand its brands, and will fund the pur­chase with loans, ac­cord­ing to a state­ment from LVMH.

Donna Karan her­self stepped down from her sig­na­ture col­lec­tion last year, to fo­cus on her Ur­ban Zen com­pany and foun­da­tion.

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