S Kumars Nationwide Ltd – SKNL which started the retail venture by becoming authorized distributors and retailers of Foreign Apparel brands has stepped ahead in the race by incorporating a JV with Donna Karan International to Design, Produce and Retail DKNY Menswear brand for the next decade across the world except Japan. SKNL will hold 90% in the venture. SKNL already has the license to produce DKNY’s sportswear, to be sold in the US, and other menswear categories for Europe, Africa, Middle East and Asia.
Nitin S Kasliwal, vice-chairman and managing director of S Kumars said,
DKNY is a specialist in womens-wear, they were looking at licensing out the menswear business.The new venture will invest $25 million for expansion of Donna Karan’s menswear brand and targets to record sales of about $140 million in the next three years.
Mr. Nitin on IPO Plans of S Kumars,
S Kumars was looking to raise $100 million by spinning off its brand Belmonte into a separate unit in the coming months. We were earlier looking to raise earlier looking at raising up to $150 million from the proposed IPO of Reid & Taylor but is now increased to raise between $225-$250 million.
DK International is currently owned by LVMH Moet Hennessey Louis Vuitton