Macy's partners with G-III to become exclusive retailer of Donna Karan line, DKNY
Macy's Inc. said Monday that it has signed an exclusive agreement with G-III Apparel Group Ltd. to become the exclusive U.S. department store retailer of DKNY women's apparel, handbags and shoes, along with men's and women's outerwear and swim. DKNY is the line founded by Donna Karan in 1989. G-III acquired DKNY in December 2016. Under the deal, Macy's and DKNY will work together on exclusives and brand extensions, and there are plans for additional and upgraded shop-in-shops. G-III will continue to operate global DKNY stores and the line's website. And G-III will maintain agreements will license partners and distributors outside of the U.S., as well as licensees for merchandise outside of the aforementioned categories. Macy's shares are down 0.8% in premarket trading and down 35.2% for the past year. G-III shares are down 13.2% in premarket trading and 49.5% for the last 12 months. The S&P 500 index is up 15.1% for the past year.
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