G-III Apparel Group’s stock, owner of the Donna Karan and DKNY labels, fell Wednesday following designer Donna Karan’s remarks over the Harvey Weinstein scandal, which she later retracted and apologized for. The stock declined 4.11 percent to close at $26.61 on the Nasdaq.
At the same time, there were growing calls for a boycott of the Donna Karan and DKNY brands, even though Karan is no longer affiliated with them. A Care2 petition also is demanding Nordstrom drop designer Donna Karan’s products. Some 4,939 people have signed the petition.
Julie Mastrine, a spokeswoman for Care2, said they haven’t presented the petition to Nordstrom yet, and expect to keep the petition up for about a week to gather signatures. When told that Karan is no longer involved in the company, Mastrine wasn’t aware of that but said she saw that Nordstrom’s web site sells the Donna Karan Cashmere Mist perfume. “It’s about them being associated with her brand when she’s made these comments,” she said.
G-III acquired Donna Karan International for $650 million from LVMH Moët Hennessy Louis Vuitton in December 2016. Morris Goldfarb, chairman and chief executive officer of G-III, has declined comment on the controversy. The first DKNY and Donna Karan collections under G-III were shipped to stores this fall. DKNY, which is sold exclusively in the U.S. at Macy’s, is featured in the retailer’s Herald Square’s 34th Street windows.
Soon after Karan made comments in support of Weinstein Sunday night to the U.K.’s Daily Mail, she issued an apology, saying her statement “unfortunately is not representative of how I feel or what I believe.”
“I have spent my life championing women. My life has been dedicated to dressing and addressing the needs of women, empowering them and promoting equal rights. My statements were taken out of context and do not represent how I feel about the current situation concerning Harvey Weinstein. I believe that sexual harassment in NOT acceptable and this is an issue that MUST be addressed once and for all regardless of the individual. I am truly sorry to anyone that I offended and everyone that has ever been a victim,” she said.