Earlier this year, it was announced that LVMH had sold Donna Karan International to fashion conglomerate G-III. (And for a cool $650 million.) Today, as the sale comes to a close, changes under the new acquisition are taking effect, with DKI chief executive officer Caroline Brown and co-creative directors Dao-Yi Chow and Maxwell Osborne all exiting Donna Karan at the end of the year as the brand evolves under a new leadership strategy.
"Given the company sale and subsequent change in strategies, we have decided to step down and focus on our own business Public School," wrote Chow and Osborne in a joint statement. "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."
Added Brown in an official statement, "As Donna Karan International transitions to new ownership and therefore new directions, I have decided it is the right time to step down and explore new possibilities. This decision accompanies much appreciation and admiration for all of the talented teams here, our founder Donna Karan and our Creative Directors Dao Yi Chow & Maxwell Osborne. I know the company rests in good hands under the new leadership of GIII for the next stage of its development."
Brown joined the Donna Karan International team as CEO in January 2015, and designers Chow and Osborne had held the creative helm for the past three seasons.
We have reached out to DKNY for comment and confirmation. This post has been updated per the brand's press release.