LVMH Louis Vuitton Moët Hennessy is set to sell New York-based company, Donna Karan, according to the New York Post. The luxury conglomerate, which owns Louis Vuitton, Givenchy, Celine, and Loewe, among others, purchased DKNY and Donna Karan International 15 years ago. The talks of a sale come less than a year after the label's founder, Donna Karan, stepped down from the helm of the company she founded in 1984 and the design duo that fronts buzzy New York-based label Public School, Maxwell Osbourne and Dao-Yi, were brought on board to oversee the DKNY collection.
Per Page 6: “We’re told that after seven months of disappointing performance under new designers Maxwell Osbourne and Dao-Yi of the Pubic School brand, LVMH has decided to sell both DKNY and DKI. We’re told the company is targeting a single, specific American buyer, rather than putting it out to multiple bidders.”
“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.”