G-III Apparel Group, Ltd. has entered into a multiyear license agreement with PVH Corp., under which PVH will design and distribute men’s wear for the DKNY brand in the U.S. and Canada. The license agreement includes DKNY Sport for Men, a new category for the brand; men’s sportswear; dress shirts; neckwear, and jeans.
The first collections will launch in spring 2018 and will be sold in department stores. Unlike the women’s DKNY collection, the men’s wear will not be exclusive to Macy’s.
On Monday, G-III’s stock closed at $19.97, up 4.4 percent, while PVH’s stock closed at $102.1, up 1.7 percent.
G-III acquired Donna Karan International, parent company of DKNY, from LVMH Moët Hennessy Louis Vuitton in December 2016.
The last time there was a DKNY Men’s collection in the market was for fall 2015. During the three seasons that DKNY was designed by Dao-Yi Chow and Maxwell Osborne (spring 2016, fall 2016 and spring 2017), the designers focused on women’s apparel.
Morris Goldfarb, chairman and chief executive officer of G-III, said, “This collaboration is an important step in the continued growth of DKNY and a clear example of the go-forward strategy to heighten this iconic brand. PVH is a trusted and powerful partner and we look forward to our continued success together.”
Ken Duane, chief operating officer of Heritage Brands and North American Wholesale for PVH, said, “DKNY is a great American brand and we are excited to have the opportunity to build out the men’s wear business in the U.S. and Canada as a complement to our existing men’s wear businesses.”
This men’s wear agreement is the fourth partnership between G-III and PVH. The companies have multiyear license agreements for various product categories under PVH’s Calvin Klein and Tommy Hilfiger brands and for men’s sportswear under G-III’s G.H. Bass brand.
As reported, G-III struck a deal with Macy’s in March to exclusively carry DKNY women’s apparel, handbags and shoes, in addition to women’s and men’s outerwear and swim exclusively at Macy’s locations in the U.S. and on macys.com. That agreement calls for building in-store shops in the better sportswear departments. The shops will roll into Macy’s in the first quarter of 2018. Before then, Macy’s, as well as other department stores, will carry DKNY until it becomes a Macy’s exclusive.
DKNY women’s apparel will be available for the rest of the year at stores such as Dillard’s, The Bay and Bloomingdale’s. G-III has reached “an understanding” with the other major retailers that when the exclusive with Macy’s starts in the first quarter of 2018, the other retailers will get the Donna Karan brand. (Resort 2016 was Karan’s last designer collection.) The Donna Karan brand will be priced a notch above DKNY. Goldfarb told WWD in March, “It’s not where Donna Karan sits today. It’s an appropriate price point for Lord & Taylor, Bloomingdale’s and Dillard’s. It’s a notch up from DKNY, but not an incredible reach. It’s different fabrics; the aesthetic is more elegant and sophisticated. We have internal designers who are designing by classification.”