Lossmaking clothing company to be offloaded to American firm as French parent company shows little patience in current trading climate
The French luxury group LVMH has agreed to sell Donna Karan International, the parent company of the New York label DKNY, to the US clothing firm G-III Apparel Group.
The sale, which values the lossmaking fashion brand at $650m (£496m), comes just over a year after the introduction of a new design team, showing how little patience LVMH has for underperforming businesses in the current tough trading environment.
Related: Donna Karan's greatest fashion achievements
Continue reading...from Mergers and acquisitions | The Guardian http://ift.tt/2a7u9q1
No comments:
Post a Comment