It’s a new day for DKNY.
Macy’s has forged a partnership with DKNY parent G-III Apparel Corp. under which the retailer will serve as the exclusive U.S. department store for sales of the brand’s women’s apparel and accessories beginning in February 2018.
In addition to women’s apparel, handbags and shoes, the agreement gives Macy’s exclusivity on women’s and men’s outerwear, and swim, available at all of its stores in the U.S. and macys.com. Macy’s and G-III will collaborate on brand extensions and exclusive products that build upon the DKNY heritage. The deal also includes increased and enhanced DKNY shops-in-shop in Macy’s stores.
Last December, G-III acquired Donna Karan International, DKNY’s parent, from LVMH Moët Hennessy Louis Vuitton for $650 million. DKNY is designed by an in-house team at G-III, which will continue to design and manufacture the collection.
“We want to create partnerships that offer our customers product and experiences that they can only find at Macy’s and DKNY is a fashion-first brand we know our customers love,” said Jeff Gennette, Macy’s Inc. president and chief executive officer.
“By offering exclusive access in key categories, we are confident that DKNY will quickly become one of our top brands. Their remarkable global recognition combined with our expansive footprint make Macy’s and DKNY a perfect partnership,” he said.
Morris Goldfarb, chairman and ceo of of G-III, noted, “We believe that Macy’s is the ideal partner as we implement our strategy for DKNY to be the premier brand in the world for women’s apparel and accessories. We have worked well with Macy’s in the past with respect to our portfolio of brands and we are confident that this partnership with Macy’s will help DKNY flourish and capture market share.”
G-III plans to release its fourth-quarter and full-year earnings results today, and the Macy’s deal is expected to be part of the discussion. Plans for the Donna Karan label may also be divulged.
G-III will continue to operate freestanding global DKNY stores and DKNY.com. G-III will also continue DKNY’s agreements with international license partners and distributors outside the U.S. Merchandise outside the exclusive categories and products distributed by DKNY’s various licensees, which range from hosiery and intimate apparel to fragrance, will continue to be sold to a broad range of department stores including Macy’s.
In addition to Donna Karan and DKNY, G-III’s owned brands include Vilebrequin, Eliza J., Andrew Marc, Marc New York, Bass and Jessica Howard. G-III has licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess, Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi’s and Dockers brands, as well as a team sports business. G-III operates retail stores under the DKNY, Wilsons Leather, Bass, Vilebrequin and Calvin Klein Performance names. In the fiscal year ended Jan. 31, 2016, G-III had revenues of $2.3 billion.
Macy’s Inc. reported fiscal 2016 sales of $25.8 billion.