Luxury goods giant LVMH is selling off the all-American brand.
After 15 years of ownership, Louis Vuitton Moët Hennessy (known commonly as LVMH) has decided to put DKNY on the market. The news comes less than a year after Donna Karan stepped down from the helm of the company she founded.
The French company - who own the likes of Louis Vuitton, Dior and Givenchy - shelved her flagship line Donna Karan International shortly after the Karan left to focus solely on the DKNY brand. This included the appointment of new designers Maxwell Osborne and Dao-Yi who, according to Page Six, reportedly delivered a disapointing performance.
‘Donna Karan and DKNY was a mega brand in the US, but all the things [LVMH] has done to change it and take it forward just haven’t worked,’ an insider told Page Six. ‘The word is that they have a buyer in mind and have approached a US company to buy the brand, but it is not yet clear if the deal is going forward.’
Negotiations are reportedly said to be taken place, but a price has not been agreed.