Donna Karan's DKNY brands head back to New York
The DKNY fashion brand is heading back to New York, where designer Donna Karan started the clothing business.
Founded in the 1980s, the Donna Karan label styles itself as "an icon of the New York Fashion scene".
It was bought by French luxury giant LVMH in 2001, but the loss-making business is now returning to the US in a $650m (£500m) takeover.
DKNY's new owners G-III make clothing for brands including Calvin Klein, Tommy Hilfiger and Karl Lagerfeld.
"[Donna Karan International's] lifestyle aesthetic resonates well with consumers throughout the world," said Morris Goldfarb, chief executive of G-III.
The deal comes just over a year after a new design team was put in place at DKNY.
Donna Karan stepped back from the business last year and LVMH decided at the time to discontinue the high-end Donna Karan line.
She launched the clothing company in 1984 for American working women offering "seven easy pieces", designed as all anyone would need to build a professional wardrobe.
It is only the second time LVMH, which also owns Christian Dior and Luis Vuitton, has sold a fashion brand in its 30-year history.