The last fashion brand that LVMH sold was Christian Lacroix in 2005. Mr. Osborne and Mr. Chow, as well as Caroline Brown, chief executive of Donna Karan International, will remain with the brand through the transition, according to an LVMH spokeswoman. PhotoFor only the second time in its almost 30-year history, LVMH Moët Hennessy Louis Vuitton, the largest luxury conglomerate in the world, is selling a fashion brand. Plans for the sale come just over a year after Donna Karan herself retired from the house that bears her name and LVMH announced a new strategy for the company. The brand went public in 1996, and LVMH bought it in 2001 for $643 million as part of a drive into the United States market.

Source: International New York Times July 25, 2016 06:04 UTC