Tuesday, July 26, 2016

Ivanka Trump’s Manufacturer Just Bought Donna Karan Label From LVMH - nytimes

For 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.

On Monday, the French company said that it had agreed to sell Donna Karan International to G-III Apparel Group, the American manufacturing and licensing company that owns Andrew Marc, Vilebrequin and Bass and holds the licenses for Ivanka Trump, Calvin Klein and Tommy Hilfiger, among others. It said that the transaction had an enterprise value, a figure based on its stock market valuation plus the net debt on its books, of $650 million.

The last fashion brand that LVMH sold was Christian Lacroix in 2005.

In a statement, Antonio Belloni, LVMH group managing director, said that G-III “has the expertise and capabilities to broaden the brand’s distribution and take it to its next level of success.” Mr. Belloni said that the French company had not been looking to sell Donna Karan until it was contacted by G-III.

“We wanted to sell to a strategic partner, not a private equity firm or other financial investor,” he said. “G-III are super-passionate about the brand.” - Read More
Ivanka Trump's Manufacturer Just Bought Donna Karan Label From LVMH

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