Donna Karan International and SINV today announced that their strategic transaction has been completed. Under the terms of the agreement, SINV will have the right to manufacture and distribute Women's and Men's Jeans apparel in Europe, Asia, the Middle East, Australia, and New Zealand. The license is for five years with the initial season set for Fall 2003.
Fred Wilson, Chief Executive Officer of Donna Karan International said, ''This agreement will allow Donna Karan International to realize the full potential of DKNY Jeans and is a critical step in the global development furthering the brands accessibility to the world as a label which represents all things New York.'' Donna Karan International and SINV are a winning combination of great design and outstanding manufacturing skills. Together we will be able to provide our customers with the best product at the best value.
''We are delighted at the completion of this transaction,'' said Ambrogio Dalla Rovere, President of SINV. ''Capitalizing on each of our companies' strengths, Donna Karan's design vision and SINV's manufacturing and distribution expertise, will benefit all involved.''
Liz Claiborne Inc. will continue to hold the exclusive and long-term license to source, market and sell men's and women's Jeans and DKNY Active collections in the Western Hemisphere.
Donna International is one of the world's leading fashion design houses. It designs, markets and distributes collections of women's and men's apparel, sportswear, accessories and shoes under the Donna Karan New York and DKNY brand names. The Company has selectively granted licenses for the manufacture and distribution of beauty and beauty related products, jeanswear, activewear, dress shirts, neckwear, hosiery, intimate apparel, coats, children's apparel and home.
Based in Carre' Italy, SINV operates since 1975 in the production and distribution of Designer Jeanswear and Sportswear collections. SINV controls Sportswear International and Neo Res, companies that manage the license of Moschino Jeans, Voyage Passion, Krizia Jeans, See by Chloe' and JPG by Gaultier. In addition to a 30% stake in the Maison Moschino and a 20% participation in the Maison Voyage, SINV owns the brand VictorVictoria in the ready-to-wear segment.
