Less than a year after Donna Karan stepped down from the helm of the company that she founded, its owner LVMH is selling the company, Page Six has learned.
LVMH is targeting a single, specific American buyer, rather than putting it out to multiple bidders. Negotiations are said to be ongoing, but a price has not yet been agreed.
“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,” said an insider, “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.”
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