Donna Karen International Just Sold For This Big Price

The fashion world just had some big news this week, as Donna Karen International, parent of the Donna Karen and DKNY brands, was just sold for a whopping $650 million to American manufacturing and licensing company G-III Apparel Group.

French luxury group LVMH has agreed to sell the company and in a joint statement by both companies, the deal is expected to close late this year or early 2017.

The deal will be funded through new debt and $75 million of G-III common stock will be issued to LVMH lvmhf.

G-III giii also owns brands such as Andrew Marc, Marc New York, and Bass. It also holds licences for Calvin Klein, Tommy Hilfiger and Karl Lagerfeld among others.