G-III Stock Drops as Calls Grow for Boycott of Donna Karan Brands

G-III Apparel Group’s stock, owner of the Donna Karan and DKNY labels, fell Wednesday following designer Donna Karan’s remarks over the Harvey Weinstein scandal, which she later retracted and apologized for. The stock declined 4.11 percent to close at $26.61 on the Nasdaq.
At the same time, there were growing calls for a boycott of the Donna Karan and DKNY brands, even though Karan is no longer affiliated with them. A Care2 petition also is demanding Nordstrom drop designer Donna Karan’s products. Some 4,939 people have signed the petition.
Julie Mastrine, a spokeswoman for Care2, said they haven’t presented the petition to Nordstrom yet, and expect to keep the petition up for about a week to gather signatures. When told that Karan is no longer involved in the company, Mastrine wasn’t aware of that but said she saw that Nordstrom’s web site sells the Donna Karan Cashmere Mist perfume. “It’s about them being associated with her brand when she’s made these comments,” she said.
G-III acquired Donna Karan International for $650 million from LVMH Moët Hennessy Louis Vuitton in December 2016. Morris Goldfarb, chairman and chief executive officer of G-III, has declined comment on the controversy. The first DKNY and Donna Karan collections

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