One of America’s most famous designer- Donna Karan is reportedly being relieved of her position as the creative director of Donna Karan International.
Together with LVMH, The designer announced a while ago that she wanted to spend more time with her Urban Zen Company and Foundation.
Karan released a statement that read as follows:“LVMH and I have made this decision after much soul searching. I have arrived at a point in my life where I need to spend more time to pursue my Urban Zen commitment to its fullest potential and follow my vision of philanthropy and commerce with a focus on health care, education and preservation of cultures. After considering the right time to take this step for several years, I feel confident that DKI has a bright future and strong team in place,” The chairman and CEO of LVMH Group- Pierre Yves Roussel, revealed that since 2001, LVMH and Donna Karan have partnered to develop Donna Karan International into a global business.He also stated that they were excited to have her as an advisor and are keen on realizing the company’s full potential while holding on to the spirit and value championed by Donna.
The company was established by Karan and her late husband in 1984 with Takiyho Inc. It later went public in 1996 and then in 2001, LVMH purchased the brand for $243 million.
In later updates, the company reported that it will not seek to replace Karan as chief designer of Donna Karan collection in the near-term. Also, runway shows and collections will be suspended for a while.
SOURCE: Footwear News, WomensWearDailyFashion
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Donna Karan Steps Down From Donna Karan International
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