In July, news broke that LVMH had sold Donna Karan Internataionl Inc. to G-III Apparel for Dhs2.3 billion and that sale was finalised on Thursday. When the sale was first announced, it was unclear how the sale would affect the label's current structure, however, WWD reports that co-creative directors Dao-Yi Chow and Maxwell Osborne will be vacating their positions at the end of the year. The brand's CEO Caroline Brown is also reportedly on her way out.
Chow and Osborne released a statement explaining their decision to leave, saying, "Given the company sale and subsequent change in strategies, we have decided to step down and focus on our own business Public School. It's been an unbelievable experience to work side by side with the wonderful people at DKNY, especially our amazing design team and atelier. We wish the company success in the future."
The duo was brought in to inject their brand of streetwear cool to the brand back in April of last year, following the success of their own label Public School. It is as yet unknown as to who will replace the pair at the helm.