| Net Worth: | $600 Million |
|---|---|
| Date of Birth: | October 2, 1948 (76 years old) |
| Gender: | Female |
| Profession: | Fashion designer, Designer |
| Nationality: | United States of America |
What is Donna Karan’s Net Worth?
Donna Karan is an American Designer and Fashion designer who has a net worth of $600 million. The DKNY clothing and fashion labels and Donna Karan New York were discovered and created by Donna Karan.
Subsequently, under the direction of designer Anne Klein in the 1960s, Karan worked as her assistant before being elevated to associate designer in 1971.
After the passing away of the CEO of Klein’s company, Anne Klein in 1974, a Japanese company acquired the Klein industry making Karan head designer alongside her former classmate and friend Louis Dell’Ollio.
In 1985, Donna Karan launched her own clothing line, generally branded DK and DKNY (Donna Karan New York).
In 1996, DKNY started trading openly. In 2001, LVMH purchased the company. In 2016, LVMH sold the business for $650 million. Last year, She left the company.
Formative Years
Donna Karan was brought into this world in New York City on the 2nd of October 1948 and was named Ivy Faské. She alongside her parent Helen Faské, and Gabriel Faskéresides in the Forest Hills neighborhood of the borough of Queens and were Jewish-born.
When Karan was three years old, her father who was a haberdasher and tailor passed away mysteriously, leaving her mother who was into modeling and working in the showroom of designer Chester Weinberg to cater to Karen’s well-being.
Karen and her younger sister were nurtured by their mother in Woodmere, New York after their father passed away. Although Karen loved playing softball and volleyball, she also had a strong interest in the arts, skipping class occasionally to focus on creative projects.
However, after completing her high school education at Hewlett High School in 1966, she enrolled at Parsons School of Design.
Career Life
Late in the 1960s, Karan started her career in the fashion industry after graduating from college by working for the designer label Anne Klein. She worked closely with Klein personally after being elevated to the position of associate designer in 1971.
Karen took part in the Battle of Versailles Fashion Show that took place in November 1973. The Takihyo Corporation of Japan took over ownership of the design house after Klein’s death in 1974, and Karan was appointed head of the Anne Klein design team. She held this position until 1984.
With the help of Takihyo Corporation and her husband Stephen Weiss, Karan launched her own company in 1984 with a focus on creating contemporary apparel. She debuted her first line of women’s clothes the next year, which she dubbed Donna Karan New York, in 1985.
She rose to fame with her “Essentials” clothing collection, which offered ladies seven basic pieces that could all be mixed and matched and revolved around a bodysuit. She also made it a point to create outfits that she herself would wear.
Given the ubiquity of her line, Karan had come to be known as The Queen of Seventh Avenue by 1988. She made the decision to grow her brand by starting a new line called DKNY, which was marketed as an affordable clothing line for younger women.
Two years later, she followed this up with DKNY Jeans, a collection that mostly included denim. She entered the menswear market in 1991, and a year later she launched DKNY for men.
Karen also introduced the cold shoulder dress in 1992, one of her most well-known creations. It was a long-sleeved jersey dress with deep cutouts on the shoulders.
Karan made the decision to step down as CEO of Donna Karan New York in 1997, but she remained as the company’s director and chief designer. After 2002, she gradually reduced her contribution to the company’s designs.
Karen said in 2015 that she will stand down as the company’s CEO to devote more time to Urban Zen, a lifestyle company she had founded in 2007.
Karan has won a number of honors over her career. Additionally, the Coty American Fashion Critics have honored her on multiple occasions in tandem with the Council of American Fashion Designers (CFDA). 2004 saw her win the CFDA Lifetime Achievement Award.
Personal Relationship
Karen got hitched to Mark in 1976. Prior to being divorced in 1978, the couple had a daughter they called Gabby. Stephan Weiss, an artist, got married in 1983.
Later, he would be named the Donna Karan company’s co-CEO. They have Corey as their only child together. Leukemia claimed Weiss’ life in 2001. Several homes are kept up by Karan.
She also owns residences in New York City and the Turks and Caicos Islands, however, she typically resides in East Hampton’s Northwest Harbor.
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