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Donna Karan steps down as chief designer at DKI
01 Jul '15
2 min read
One of the most iconic fashion designers Donna Karan is stepping down as chief designer at Donna Karan International (DKI) a company she co-founded with two others in 1984.
Quoting DKI, WWD said Donna Karan now plans to devote greater time to her Urban Zen company and foundation, but will still remain a close adviser to DKI.
DKI went public on the New York Stock Exchange in 1996 and in 2001; LVMH paid $243 million to acquire DKI and an additional $400 million to acquire the Donna Karan trademarks from Gabrielle Studio.
“LVMH and I have made this decision after much soul-searching,” WDD quoted Karan as saying.
“I have arrived at a point in my life where I need to spend more time to pursue my Urban Zen commitment to its fullest potential and follow my vision of philanthropy and commerce with a focus on health care, education and preservation of cultures,” she added.
“After considering the right time to take this step for several years, I feel confident that DKI has a bright future and a strong team in place,” Karan observed.
Quoting sources, WDD informed that DKI may be considering merging the Donna Karan Collection into DKNY and offering a broader range of price points.
This is similar, but opposite tack taken by sister brand Marc Jacobs, which is incorporating Marc by Marc Jacobs into the Marc Jacobs collection.
CEO at LVMH Pierre-Yves Roussel said, “Since 2001, LVMH and Donna Karan have partnered to develop Donna Karan International into a global business.”
“We are committed to fully realizing the potential of the company while staying true to the spirit and value Donna has championed for more than 30 years,” Roussel too added.
Caroline Brown, CEO at DKI stated, “Donna Karan is a visionary designer, who changed the way women dress by redefining power and sensuality.”
“As she steps into this new role, I speak for the many teams at DKI in supporting her great legacy and reinforcing our commitment to it for our next chapter,” Brown noted. (AR)
Quoting DKI, WWD said Donna Karan now plans to devote greater time to her Urban Zen company and foundation, but will still remain a close adviser to DKI.
DKI went public on the New York Stock Exchange in 1996 and in 2001; LVMH paid $243 million to acquire DKI and an additional $400 million to acquire the Donna Karan trademarks from Gabrielle Studio.
“LVMH and I have made this decision after much soul-searching,” WDD quoted Karan as saying.
“I have arrived at a point in my life where I need to spend more time to pursue my Urban Zen commitment to its fullest potential and follow my vision of philanthropy and commerce with a focus on health care, education and preservation of cultures,” she added.
“After considering the right time to take this step for several years, I feel confident that DKI has a bright future and a strong team in place,” Karan observed.
Quoting sources, WDD informed that DKI may be considering merging the Donna Karan Collection into DKNY and offering a broader range of price points.
This is similar, but opposite tack taken by sister brand Marc Jacobs, which is incorporating Marc by Marc Jacobs into the Marc Jacobs collection.
CEO at LVMH Pierre-Yves Roussel said, “Since 2001, LVMH and Donna Karan have partnered to develop Donna Karan International into a global business.”
“We are committed to fully realizing the potential of the company while staying true to the spirit and value Donna has championed for more than 30 years,” Roussel too added.
Caroline Brown, CEO at DKI stated, “Donna Karan is a visionary designer, who changed the way women dress by redefining power and sensuality.”
“As she steps into this new role, I speak for the many teams at DKI in supporting her great legacy and reinforcing our commitment to it for our next chapter,” Brown noted. (AR)
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