G-III, a leading designer, manufacturer and marketer of branded apparel and accessories, acquired Donna Karan International, a New York-based fashion house, from LVMH, the world’s leading high quality products group, for $650m. Morris Goldfarb, Chairman, Chief Executive Officer and President of G-III, said, “Donna Karan International is an iconic global fashion company. Its lifestyle aesthetic resonates well with consumers throughout the world. We are excited to build upon its strong foundation as we seek to capitalize on a significant market opportunity. Donna Karan brings increased scale and diversification, while providing incremental growth on top of our portfolio of some of the best fashion brands in the world. We believe we are well positioned to create and sustain additional value for our shareholders, partners, and customers.”