One of the most influential and important designers in American fashion, Donna Karan, has announced that she is leaving the helm of Donna Karan International.
The 66-year old fashion mogul made the announcement on Tuesday, June 30, reports Women's Wear Daily, saying, "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 a strong team in place."
Donna Karen co-founded Donna Karan International (DKI) with her late husband Stephan Weiss and Takiyho Inc. in 1984. The company went public on the New York Stock Exchange in 1996, and in 2001, LVMH Moët Hennessey Louis Vuitton acquired all outstanding shares in DKI, along with securing Gabrielle Studio Inc., the licensor of the Donna Karan trademarks.
According to the New York Times, the French conglomerate, LVMH Moët Hennessy Louis Vuitton, said there were no immediate plans to replace Karan as a designer. The main Donna Karan collection would also be suspended and DKI will not hold a show at the New York Fashion Week in September. Instead, the company announced that it will reorganize its structure to "substantially increase its focus on the DKNY brand," which is the company's more accessible line, currently responsible for 80 percent of DKI's revenue. It will also maintain its license business.
The former Chief Designer will also remain as an adviser to Donna Karan International. Karan plans to devote more time for her Urban Zen company, which features wellness and artisanal goods, and foundation.
