No small deal: LVMH Moët Hennessy Louis Vuitton has parted ways with Donna Karan, and the purchaser, while perhaps not a household name, controls a stable of heavy hitters, including Andrew Marc, Bass, and Vilebrequin, and holds the licenses of Calvin Klein, Ivanka Trump, and Tommy Hilfiger, to name but three big brands.
“When G-III approached us about acquiring the brand, we concluded that the time was right,” Toni Belloni, managing director of LVMH, said in a statement on Monday. G-III Apparel Group, which is based in Manhattan’s Garment District, was founded in 1956 by Aron Goldfarb. LVMH rarely unloads a brand, and this deal marks only the second time it has done so, having sold Christian Lacroix in 2005. The deal had an enterprise value of $650 million.
Thomas Chauvet, an analyst at Citi, added in an email to investors that the transaction could lead to further sales by LVMH. Mr. Chauvet mentioned Marc Jacobs and duty-free concern Miami Cruise as possible targets, adding that Miami Cruise was unlikely to renew its contract at DFS Hong Kong airport at the end of next year.
Karan retired last year from the house she founded, and is now focused on Urban Zen, a wellness concept. LVMH bought Donna Karn in 2001 for $643 million.
Shares in LVMH rose about 1 percent after the announcement.
ELIZABETH ANTHONY
Trending
- 5 Best New TV Shows to Stream Right Now — Crime Comedies, a Popular Book Adaptation, Beef Returns for Round Two, and More Must-Watch Series
- Aman Is Finally Coming to Texas — Resort Favorite With a Cult Following Is Bringing Amansanu To the Hill Country
- Houston’s Best Dressed Of 2026 Revealed — See Which Fashionable Rookies and Stylish Returnees Made the Cut
- Death Of Houston’s Beloved Events Maestro Richard Flowers Shakes the City’s Elite — Lynn Wyatt, Tilman Fertitta and More Remember an Irreplaceable Party Legend
- Houston’s Own French Connection — Diving Into Riviera Nights In The Swank Post Oak Hotel
_md.jpg)
