LVMH, parent company to many luxury brands like Louis Vuitton, Céline, and Givenchy, is reportedly trying to sale Donna Karan.
According to an article on Fashionista, LVMH is trying to sell brands Donna Karan and DKNY to a buyer in the United States because of declining sales.
A source with knowledge of the subject says,
“after seven months of disappointing performance under new designers Maxwell Osbourne and Dao-Yi of the Pubic School brand, LVMH has decided to sell both DKNY and DKI. We’re told the company, which also owns Marc and Givenchy, among dozens of other blue chip brands, is targeting a single, specific American buyer, rather than putting it out to multiple bidders.”
LVMH has also already approached a company in the U.S. to buy the brands but it is currently not known if the company will buy them or not, according to an article on The New York Post.
LVMH purchased Donna Karan and DKNY 15 years ago but reports of the sale come less than a year after Donna Karan herself resigned as the creative director of the brand.
After Karan resigned, LVMH discontinued her luxury brand Donna Karan and only worked on the contemporary brand, DKNY. Then the brand announced in April that it discontinued the DKNY Jeans and DKNY C brands, which had cost the company about $200 million in revenue, according to an article on Reuters.
Both LVMH and a PR representative for DKNY have declined to comment.
Fashionista also says this may be just a rumor, but it wouldn’t be much of a surprise if LVMH were to sell Donna Karan and DKNY given the brand’s recent financial reports.
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