Digiday Publishing Summit:

Connect with execs from The New York Times, TIME, Dotdash Meredith and many more

SECURE YOUR SEAT

What LVMH’s sale of DKNY tells you about the luxury market

LVMH is selling off Donna Karan International, the owner of DKNY, to G-III Apparel Group in a deal that is valuing the troubled brand for $650 million. 

It’s not entirely a surprise: Donna Karan had been losing money for years, operating in a tough business environment. Luxury analysts say DKNY’s annual sales (LVMH does not break out individual company performance) came in at about $450 million. So G-III is paying about $1 to $1.5 times annual revenue, less than the 1.9 times LVMH paid when it bought the company in 2001 for $643 million.)

Read the rest of this story on Glossy.co

 

 

https://digiday.com/?p=190000

More in Marketing

WTF is ‘Google Zero’?

The era of “Google Zero” — industry shorthand for a world where Google keeps users inside its own walls — is here.

privacy search

The next browser wars are here — and AI wants the ad dollars too

Perplexity and OpenAI are getting ready to take on Google’s Chrome, but will need a solid ad business to keep their browsers ticking along.

Vista Equity Partners’ TripleLift implements ‘significant’ layoffs

The latest round of layoffs is understood to have impacted all departments at the SSP across multiple geographies.