Donna Karan International (DKI) and S. Kumars Nationwide Limited (SKNL) today announced that they had formed a joint venture and entered into a strategic global licensing agreement. As part of this arrangement, SKNL (UK) Limited will source, design, produce and distribute the full range of DKNY menswear apparel. The agreement runs through 2015, with an option to extend the license for an additional seven years.
The Spring 2010 collection, which carries the DKNY Black Label, is the first to be offered by SKNL under this agreement. This collection is available in high-end department and speciality stores in addition to DKNYs network of approximately 100 DKNY free-standing retail stores around the world. The sportswear range of the DKNY mens apparel line is distributed in North America, Europe, Africa, the South Pacific, Middle East and Asia.
[DKNY is one of the most recognized brands in the global apparel marketplace and we are delighted to continue its expansion in the menswear market globally, said . Nitin S. Kasliwal, Managing Director and Vice Chairman of SKNL. This joint venture with DKI is consistent with SKNLs focus on aligning with the worlds top apparel and accessories brands as part of our global growth strategy.]
Mark Weber, chief executive officer of LVMH, Inc. in North America and chairman and CEO of DKI, said, Based on the leadership of DKNY, we are focused on expanding our offerings for DKNY Men to include a full lifestyle collection. SKNL has deep expertise in the mens business and is an excellent partner as we move to fully capitalize on the opportunity that exists for the DKNY mens brand.
DKI and SKNL entered into an interim agreement to produce a full DKNY mens line in 2009. The joint venture being announced today formalizes and expands that relationship. Michael Morris, President of SKNL (UK) Limited, leads the DKNY mens business.
.Morris said, This joint venture allows two leading companies to benefit from their combined strengths to tap the full potential of the DKNY mens business in current and new markets. This includes expanding its presence in Europe, where it is highly sought after. We look forward to continuing our relationship with DKI for the long term.