USA: Luxury Goods Group LVMH Completes Donna Karan Acquisition
French luxury goods group LVMH Moet Hennessy Louis Vuitton on Tuesday completed the acquisition of US fashion house Donna Karan International Inc for $243 million.
Donna Karan agreed earlier this year to be acquired by the French-based conglomerate for $10.75 a share.
LVMH said it will now combine Donna Karan with Gabrielle Studio Inc, the licenser of the Donna Karan trademarks that it acquired before its latest deal. The Donna Karan brand is now part of the LVMH Fashion Group.
LVMH's impressive portfolio of labels includes Christian LaCroix, Emilio Pucci, Fendi, Givenchy and Marc Jacobs. Among its other products are Dom Perignon champagne, Hennessy cognac, Christian Dior perfume and TAG Heuer watches.
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