In breaking fashion news, Donna Karan has just announced that she is stepping down from her namesake company ( DKI) she founded with husband Stephan Weiss in 1984. WWD has reported.
“Donna Karan is a part of me, past, present and future. It has been an honor to speak woman to woman about ‘Seven Easy Pieces’ that forever changed the way women dress,” Karan said, “I want to express my gratitude and my deepest feelings to the dozens and dozens of colleagues over the years who have helped take Donna Karan New York far beyond my wildest dreams.”
DKI went public on the New York Stock Exchange in 1996, and in 2001, LVMH -Louis Vuitton paid $243 million for all outstanding shares in DKI, plus $400 million for Gabrielle Studio Inc., the licensor of the Donna Karan trademarks.
The revolutionary designer’s choice to step down was made in decision with DKI’s parent company, LVMH. “LVMH and I have made this decision after much soul-searching,” the designer stated, “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.”
Karan’s announcement comes after major recent changes within the company, including the departure of long time associates and employees , like Patti Cohen and appointment of new creative directors, replacing Jane Chung.
At the present time, DKI won’t seek a successor for Karan as chief designer of Donna Karan Collection and will suspend that brand’s runway shows and collections for now. WWD reported that the company plans to continue to support the Karan brand through its strong license business and will also reorganize its teams and structure in order to substantially increase its focus on the DKNY brand.
Donna Karan Inc. has been a 31 year labour of love for the visionary designer and we are sad to see her go! This is the statement issued by her company on Instagram:
- After much thoughtful discussion and in partnership with Donna Karan International and LVMH, our visionary founder, Donna Karan, has made a personal decision to step down from her day-to-day responsibilities as Chief Designer for Donna Karan International. She will remain with the company in an advisory role and will dedicate her focus on her Urban Zen Company and foundation, which she founded in 2007.
Over the past three decades, Donna Karan has inspired women around the world to embrace their power and sensuality. When she started her collection in 1985 she set out to simply make clothes for her and her friends. A little collection of simple black pieces that was all about need and desire. She quickly found out that she wasn’t alone- she had a lot of friends out there. Her philosophy of a sophisticated system of dressing, “her seven easy pieces” revolutionized the working woman’s wardrobe.
Donna Karan is an icon, visionary designer and a passionate philanthropist. She believes in dressing and addressing women. Her impact on American Fashion has been extraordinary and she will continue to influence and inspire for years to come.
We honor Donna today and always. We look forward to celebrating her past, present and future in her memoir, which is due out in October 2015.#DonnaKaran
Original article: Donna Karan Steps Down From Own Label And DKI Suspends Runway Shows
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