On the same day that the sale of Donna Karan to GIII group was finalized for $ 650 millions, three of its key business and creative directors announced their departure from the brand. After less than 2 years on the job, Caroline Brown, CEO, together with creative directors Maxwell Osborne and Dao-Yi Chow will leave the iconic fashion house by the end of the month.
In a written statement Caroline Brown, Donna Karan's CEO since 2015, said "As Donna Karan International transitions to new ownership and therefore new directions, I have decided it is the right time to step down and explore new possibilities".
From Miami where they were hosting an afterparty at Art Basel, Osborne and Chow commented "Given the company sale and subsequent change in strategies, we have decided to step down and focus on our own business Public School."
GIII's portfolio includes Vilebrequin and Andrew Marc; the company also manufactures under licence for Tommy Hilfiger, Calvin Klein and Karl Lagerfeld among others.