LVMH could be willing to sell Donna Karan
today Jul 22, 2016
The LVMH group is definitely at the heart of a number of rumours. Bernard Arnault has predicted the departure of Nicholas Ghesquière from his Creative Director role at Louis Vuitton, but the rumour was denied by the French label. It is now the turn of the New York Post's Page Six to suggest that the world luxury leader could be willing to sell Donna Karan.
LVMH acquired the US fashion label in 2001. Managed by its eponymous founder and creative director, Donna Karan, the label was one of the jewels in the US fashion's crown at the end of last century, together with Calvin Klein. Its looks consisted of chic basics, via two labels, DKI and DKNY.
However, the French luxury goods group is struggling to make the US brand shine again. The creative directors duo of Maxwell Osborne and Dao-Yi Chow (who also own the Public School brand), has failed to revive sales, while Donna Karan herself left the company last year. Last March, it was the turn of the label's Chief Image Officer, Hector Muelas (formerly with Apple) to leave. He was hired less than a year before.
According to Page Six, LVMH is looking for a US buyer, which would undoubtedly be in a better position to relaunch the New York fashion label. A name appears to have already been suggested [PVH, the owner of Calvin Klein and Tommy Hilfiger?].
The question is whether these rumours surrounding luxury labels must be read as a consequence of the market's slow-down. There is no doubt however that, as fashion labels experience difficulties, they begin to ask themselves how to adapt their strategies.
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