LVMH Moët Hennessy Louis Vuitton has completed the acquisition of Donna Karan International for $10.75 per share in cash, or a total of $243 million, following DKI shareholder approval at a meeting held earlier today.
LVMH will combine DKI with Gabrielle Studio Inc., the licensor of the Donna Karan trademarks which LVMH acquired previously. The Donna Karan brand is now part of the LVMH Fashion Group.
Giuseppe Brusone, Chief Executive Officer of DKI said, "We look forward to capitalizing on LVMH's expertise and capabilities in strengthening and growing premier luxury brands as we work to implement our long-term business strategy."
Yves Carcelle, President, LVMH Fashion Group, added, "We are very pleased to bring another world-class brand into the LVMH Fashion Group. We are now focused on completing the smooth and successful transition of DKI into our Group, and leveraging our resources and distribution network in order to enhance its performance and further its reach as a global luxury lifestyle brand."
Founded in 1984 by Donna Karan, DKI is one of the world's leading fashion design houses. Its collections of women's and men's clothing, sportswear, accessories and shoes are marketed under the brand names DONNA KARAN NEW YORK, DKNY, DKNY JEANS and DKNY ACTIVE.