G-III will gain the Donna Karan and DKNY brands, the companies said. LVMH shelved the Donna Karan line after its founder departed last year, with plans to focus on the DKNY brand, the New York Post reported on 20 July. Geneva/Zurich: LVMH agreed to sell Donna Karan International to G-III Apparel Group Ltd for an enterprise value of $650 million, a rare disposal for the French luxury-goods maker, which failed to turn around a label that once defined workplace attire for successful US women. Co-founder Donna Karan transformed professional women’s wardrobes in the 1980s and ’90s with her design philosophy of “seven easy pieces” that could be mixed and matched, but the spread of casual workplace dressing has proved a challenge. LVMH CEO Bernard Arnault’s mantra is there’s no such thing as a bad brand, just bad brand managers, according to the analyst.

Source: Mint July 25, 2016 11:48 UTC