30 Jul '16, 7pm

Luxury French Fashion Group Sells Donna Karan International For $650 Million - Celebrity Net...

Luxury French Fashion Group Sells Donna Karan International For $650 Million - Celebrity Net...

Donna Karan International is headed back to the United States. In a deal said to be worth $650 million, French luxury conglomerate, LVMH, agreed to sell the brand to G-III Apparel Group, an American manufacturing and licensing company that owns Andrew Marc, Vilebrequin and Bass and holds the licenses for Ivanka Trump, Calvin Klein, and Tommy Hilfiger. The sale is a departure for the company; in fact, it's only the second time in almost 30 years LVMH has sold a fashion brand. (The last brand it sold was Christian Lacroix in 2005.) The move has some wondering whether other underperforming brands, like Marc Jacobs, could be next. Peter Michael Dills/Getty Images When LVMH bought Donna Karan International in 2001 for $643 million, it was taking a gamble. It was the French company's first major American designer label and its biggest foray into the ready-to-wear apparel busines...

Full article: http://www.celebritynetworth.com/articles/how-much-does/l...

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