Jul 25, 2016 10:22 AM

LVMH selling Donna Karan brand to US group G-III Apparel

The Associated Press

PARIS (AP) — 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 such brands as Christian Dior, Kenzo and Sephora and a leader in the luxury world.

According to the transaction announced Monday, G-III will acquire Donna Karan International, Inc., in late 2016 or early 2017.

New York-based G-III owns brands including Bass shoes and Vilebrequin clothing, and has licenses 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.

--  Dealing with the Disease of Addiction? Click here for help --

--

»Comments

Must Read on NH1.com

Concord, NH
Broken Clouds 35°
10am 37°
11am 38°
12pm 38°
1pm 39°

 

N.H. DollarSaver

 Tuesday, 10:30 a.m. - Hearing on SB 9, a bill to strengthen rape victims’ privacy rights

Tuesday, 2:30 p.m. - Hearing for Gov. Sununu AG nominee Gordon MacDonald

Tuesday, 7 p.m. - Trump gives remarks for Senators and their spouses

 

 

NH1 on Facebook

Download NH1 App

NH1 on Twitter

Check out NH1 News Rail Polls on LockerDome on LockerDome