LVMH sell Donna Karen International Inc.

Endaba Group

LVMH has agreed to sell Donna Karan International Inc. to G-III Apparel Group Ltd. for an estimated value of $650 million! G-III makes dresses, suits and sportswear under brands such as Calvin Klein and Vince Camuto, and will gain the Donna Karan and DKNY brands, expected to be completed by early next year. G-III has obtained financing commitments from Barclays and JPMorgan Chase for a $525 million ABL credit facility and a $450m 6-year term loan. The sale comes a year after the founder of the women’s clothing brand stepped down as Chief Designer to focus on other projects such as Urban Zen